SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – Time to Sell?

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.38, but opened at $9.16. SunCar Technology Group shares last traded at $9.41, with a volume of 117,456 shares traded.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on shares of SunCar Technology Group in a research report on Monday, December 30th. They set a “buy” rating and a $12.00 target price for the company.

SunCar Technology Group Trading Down 2.0 %

The firm’s 50 day simple moving average is $9.44 and its 200-day simple moving average is $9.63.

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors have recently added to or reduced their stakes in SDA. State Street Corp increased its position in shares of 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 purchasing an additional 3,877 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 1,116 shares during the period. Finally, XTX Topco Ltd raised its position in SunCar Technology Group by 24.6% in the second quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after purchasing an additional 3,596 shares during the period. Hedge funds and other institutional investors 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.