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

SunCar Technology Group Inc. (NASDAQ:SDA) gapped up prior to trading on Friday . The stock had previously closed at $9.01, but opened at $9.30. SunCar Technology Group shares last traded at $9.30, with a volume of 109,614 shares traded.

Analysts Set New Price Targets

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

SunCar Technology Group Trading Up 3.8 %

The stock’s 50-day moving average is $9.58 and its two-hundred day moving average is $9.54.

Institutional Investors Weigh In On SunCar Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in shares of 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 buying an additional 3,877 shares during the period. XTX Topco Ltd raised its stake in SunCar Technology Group by 24.6% during the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after acquiring an additional 3,596 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $269,000 after purchasing an additional 1,116 shares in the last quarter. Hedge funds and other institutional investors 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.