SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – Still a Buy?

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.

Wall Street Analyst Weigh In

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

SunCar Technology Group Stock Up 1.2 %

The stock’s fifty day moving average price is $9.57 and its 200 day moving average price is $9.55.

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors have recently modified their holdings of SDA. XTX Topco Ltd grew its position in shares of 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 buying an additional 3,596 shares in the last quarter. State Street Corp grew its holdings in SunCar Technology Group by 33.5% during the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after acquiring an additional 3,877 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in 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 purchasing an additional 1,116 shares during the period. 0.26% of the stock is 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.