SunCar Technology Group (NASDAQ:SDA) Stock Price Up 8.6% – Here’s Why

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price traded up 8.6% during trading on Thursday . The stock traded as high as $10.18 and last traded at $10.13. 404,716 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 574,757 shares. The stock had previously closed at $9.32.

Analyst Upgrades and Downgrades

Separately, BTIG Research initiated coverage on shares of 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 10.1 %

The company’s 50-day moving average is $9.43 and its 200 day moving average is $9.66.

Hedge Funds Weigh In On SunCar Technology Group

A number of hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in SunCar Technology Group by 33.5% during 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. XTX Topco Ltd lifted its stake in SunCar Technology Group by 21.0% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SunCar Technology Group by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock worth $269,000 after buying an additional 1,116 shares during 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.