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

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 Upgrades and Downgrades

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

SunCar Technology Group Stock Performance

The company has a fifty day moving average of $9.44 and a two-hundred day moving average of $9.61.

Hedge Funds Weigh In On SunCar Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDA. State Street Corp increased its stake in shares of SunCar Technology Group by 33.5% in the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after purchasing an additional 3,877 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 1,116 shares during the last quarter. Finally, XTX Topco Ltd grew its position 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 acquiring an additional 3,596 shares during the last quarter. 0.26% of the stock is owned by institutional investors and hedge funds.

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.