SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 186,000 shares, a drop of 25.6% from the December 15th total of 249,900 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 370,100 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On SunCar Technology Group

Several hedge funds have recently bought and sold shares of SDA. Geode Capital Management LLC lifted its holdings in shares of SunCar Technology Group by 4.8% during the third quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after purchasing an additional 1,116 shares during the last quarter. XTX Topco Ltd raised its stake in SunCar Technology Group by 21.0% during the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock valued at $243,000 after buying an additional 3,820 shares during the last quarter. Finally, State Street Corp boosted its holdings in SunCar Technology Group by 33.5% in the third quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after acquiring an additional 3,877 shares in the last quarter. Institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Stock Performance

Shares of SDA stock traded up $0.36 during mid-day trading on Wednesday, reaching $9.57. 653,948 shares of the company’s stock traded hands, compared to its average volume of 579,828. The company’s 50-day moving average price is $9.44 and its 200-day moving average price is $9.61. SunCar Technology Group has a 12 month low of $5.71 and a 12 month high of $11.74.

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.