SunCar Technology Group Announces Share Repurchase Program
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BTIG Defending SunCar Tech Group (SDA)
February 10, 2025 5:36 AM ESTBTIG analyst Marvin Fong reiterated a Buy rating and $12.00 price target on SunCar Tech Group (NASDAQ: SDA).
The analyst comments "SDA priced a 7.1MM share offering last week at $7.00/ share, raising gross proceeds of $50.0M (not including the greenshoe). Shares closed Friday at $4.76, 32% below the secondary price. We are not aware of any material developments in the last week apart from the secondary itself. As such, we do not view the decline in the stock price as fundamentals-driven. At the risk of stating the obvious, the 7% dilution from the... More
