SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – Here’s What Happened

SunCar Technology Group Inc. (NASDAQ:SDA) gapped down prior to trading on Thursday . The stock had previously closed at $9.65, but opened at $9.35. SunCar Technology Group shares last traded at $9.52, with a volume of 95,785 shares traded.

Analyst Ratings Changes

Separately, BTIG Research assumed coverage on SunCar Technology Group in a research note on Monday. They set a “buy” rating and a $12.00 target price on the stock.

SunCar Technology Group Trading Down 0.6 %

The stock’s 50-day simple moving average is $9.60 and its 200-day simple moving average is $9.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd grew 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 worth $166,000 after buying an additional 3,596 shares during the period. State Street Corp boosted its stake 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 acquiring an additional 3,877 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $269,000 after purchasing an additional 1,116 shares during the period. Hedge funds and other institutional investors 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.