SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – Here’s Why

SunCar Technology Group Inc. (NASDAQ:SDA) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.84, but opened at $9.54. SunCar Technology Group shares last traded at $9.70, with a volume of 153,756 shares trading hands.

Analyst Ratings Changes

Separately, BTIG Research started coverage on SunCar Technology Group in a research report on Monday, December 30th. They issued a “buy” rating and a $12.00 price objective on the stock.

SunCar Technology Group Price Performance

The stock has a 50 day moving average price of $9.48 and a two-hundred day moving average price of $9.61.

Institutional Trading of SunCar Technology Group

Several hedge funds have recently added to or reduced their stakes in SDA. XTX Topco Ltd raised its stake in SunCar Technology Group by 24.6% during the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after buying an additional 3,596 shares during the period. State Street Corp raised its stake in SunCar Technology Group by 33.5% during the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after buying an additional 3,877 shares during the period. Finally, Geode Capital Management LLC raised its stake in SunCar Technology Group by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock worth $269,000 after buying an additional 1,116 shares during the period. Institutional investors and hedge funds own 0.26% of the company’s stock.

SunCar Technology Group Company Profile

SunCar Technology Group Inc, through its subsidiaries, provides digitalized automotive after-sales service and online insurance intermediation services in the People's Republic of China. It operates through three segments: Insurance Intermediation Business; Automotive After-Sales Business; and Technology Business.