SunCar Technology Group (NASDAQ:SDA) Shares Up 3.9% – Time to Buy?

SunCar Technology Group Inc. (NASDAQ:SDA) shares traded up 3.9% on Wednesday . The stock traded as high as $9.63 and last traded at $9.53. 116,310 shares were traded during mid-day trading, a decline of 74% from the average session volume of 446,478 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

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

SunCar Technology Group Stock Performance

The stock’s 50 day moving average price is $9.53 and its 200-day moving average price is $9.60.

Institutional Investors Weigh In On SunCar Technology Group

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of SunCar Technology Group by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock worth $269,000 after acquiring an additional 1,116 shares in the last quarter. XTX Topco Ltd raised its holdings in SunCar Technology Group by 21.0% in the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after purchasing an additional 3,820 shares in the last quarter. Finally, State Street Corp lifted its position in shares of SunCar Technology Group by 33.5% during the third quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after buying an additional 3,877 shares during the last quarter. 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.