SunCar Technology Group Inc. (NASDAQ:SDA) Sees Large Growth in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 369,300 shares, a growth of 24.3% from the September 30th total of 297,100 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 273,500 shares, the days-to-cover ratio is presently 1.4 days.

SunCar Technology Group Price Performance

Shares of SDA traded down $0.48 on Wednesday, hitting $9.65. 404,811 shares of the stock traded hands, compared to its average volume of 288,834. SunCar Technology Group has a one year low of $5.43 and a one year high of $11.74. The business has a 50 day simple moving average of $10.02 and a 200 day simple moving average of $8.97.

Institutional Investors Weigh In On SunCar Technology Group

An institutional investor recently raised its position in SunCar Technology Group stock. XTX Topco Ltd lifted its holdings in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,186 shares of the company’s stock after purchasing an additional 3,596 shares during the period. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.