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

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 249,900 shares, a drop of 20.1% from the November 30th total of 312,600 shares. Based on an average trading volume of 339,100 shares, the short-interest ratio is presently 0.7 days. Currently, 0.8% of the shares of the company are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On SunCar Technology Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd grew its holdings in SunCar Technology Group by 24.6% during the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after buying an additional 3,596 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SunCar Technology Group by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after acquiring an additional 1,116 shares during the last quarter. Finally, State Street Corp grew its holdings 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 valued at $170,000 after purchasing an additional 3,877 shares in the last quarter. Institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Stock Up 0.7 %

SDA traded up $0.07 on Tuesday, hitting $9.53. 410,419 shares of the company’s stock traded hands, compared to its average volume of 298,395. SunCar Technology Group has a one year low of $5.71 and a one year high of $11.74. The company’s 50 day simple moving average is $9.60 and its 200-day simple moving average is $9.53.

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.