SunCar Technology Group (NASDAQ:SDA) Trading Down 6.4% – Here’s What Happened

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price fell 6.4% on Tuesday . The stock traded as low as $8.66 and last traded at $8.72. 194,418 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 295,157 shares. The stock had previously closed at $9.32.

SunCar Technology Group Stock Down 7.2 %

The firm’s 50 day moving average is $9.92 and its two-hundred day moving average is $9.41.

Hedge Funds Weigh In On SunCar Technology Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in SunCar Technology Group by 33.5% during the third 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 period. XTX Topco Ltd boosted its position in SunCar Technology Group by 24.6% during the second quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after purchasing an additional 3,596 shares during the period. Finally, Geode Capital Management LLC boosted its position in SunCar Technology Group by 4.8% during the third 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. 0.26% of the stock is owned by institutional investors.

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.