SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – What’s Next?

SunCar Technology Group Inc. (NASDAQ:SDA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.84, but opened at $9.17. SunCar Technology Group shares last traded at $9.31, with a volume of 99,499 shares changing hands.

SunCar Technology Group Price Performance

The stock has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $9.42.

Institutional Investors Weigh In On SunCar Technology Group

Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in shares of SunCar Technology Group by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after acquiring an additional 3,596 shares during the period. Geode Capital Management LLC boosted its position in SunCar Technology Group by 4.8% in the third quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after buying an additional 1,116 shares during the last quarter. Finally, State Street Corp boosted its position in SunCar Technology Group by 33.5% in 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 and hedge funds own 0.26% of the company’s stock.

About SunCar Technology Group

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.