SunCar Technology Group Inc. (NASDAQ:SDA) Sees Significant Increase in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 483,092 shares, a growth of 388.6% from the February 26th total of 98,866 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 694,086 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 694,086 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the company are sold short.Analysts Set New Price TargetsSunCar Technology Stock Overheats...Will it Rise Again?SDA has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SunCar Technology Group in a report on Thursday, January 22nd. Zacks Research raised shares of SunCar Technology Group to a "hold" rating in a report on Wednesday, March 18th. Finally, BTIG Research restated a "buy" rating and issued a $6.00 price objective on shares of SunCar Technology Group in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, SunCar Technology Group currently has an average rating of "Hold" and a consensus price target of $4.75.Check Out Our Latest Stock Report on SunCar Technology GroupSunCar Technology Group Price PerformanceNASDAQ SDA remained flat at $1.82 during trading on Tuesday. The company's stock had a trading volume of 35,866 shares, compared to its average volume of 257,108. The company has a market capitalization of $188.62 million, a PE ratio of -26.00 and a beta of 0.08. The stock has a 50 day moving average of $2.01 and a two-hundred day moving average of $2.09. SunCar Technology Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.77. About SunCar Technology Group (Get Free Report)SunCar Technology Group NASDAQ: SDA is a technology-driven developer of range-extending systems for electric vehicles. The company’s flagship offering, SunDrive, integrates a compact internal combustion generator, advanced battery management, thermal management, and proprietary power electronics under unified control software. By combining these elements into a modular platform, SunCar addresses range anxiety and total cost of ownership concerns for light- and medium-duty EV fleets. Founded in 2016 and headquartered in Shenzhen, China, SunCar serves global customers across ride-hailing, delivery logistics and commercial fleet segments.Featured ArticlesFive stocks we like better than SunCar Technology GroupThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in SunCar Technology Group Right Now?Before you consider SunCar Technology Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SunCar Technology Group wasn't on the list.While SunCar Technology Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here