SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – What’s Next?

SunCar Technology Group Inc. (NASDAQ:SDA) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.38, but opened at $9.16. SunCar Technology Group shares last traded at $9.41, with a volume of 117,456 shares traded.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on SunCar Technology Group in a research note on Monday, December 30th. They set a “buy” rating and a $12.00 price objective on the stock.

SunCar Technology Group Trading Up 0.6 %

The company has a fifty day moving average of $9.44 and a two-hundred day moving average of $9.63.

Institutional Investors Weigh In On SunCar Technology Group

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in SunCar Technology Group by 33.5% in the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after purchasing an additional 3,877 shares during the period. XTX Topco Ltd boosted its position in shares of SunCar Technology Group by 24.6% during the second 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 during the period. Finally, Geode Capital Management LLC grew its stake 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 buying an additional 1,116 shares during the last quarter. 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.