SunCar Technology Group (NASDAQ:SDA) Stock Price Down 3.3% – Should You Sell?

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price dropped 3.3% during mid-day trading on Friday . The company traded as low as $10.70 and last traded at $10.82. Approximately 107,225 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 281,871 shares. The stock had previously closed at $11.19.

SunCar Technology Group Price Performance

The stock’s 50-day moving average price is $9.93 and its 200-day moving average price is $8.65.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SunCar Technology Group stock. XTX Topco Ltd lifted its holdings in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,186 shares of the company’s stock after buying an additional 3,596 shares during the quarter. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 as of its most recent filing with the SEC. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

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.