SunCar Technology Group (NASDAQ:SDA) Trading Up 0.2% – Here’s Why

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) rose 0.2% on Tuesday . The company traded as high as $4.95 and last traded at $4.84. Approximately 158,758 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 355,818 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

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

SunCar Technology Group Price Performance

The firm’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $9.10.

Institutional Trading of SunCar Technology Group

A number of large investors have recently modified their holdings of SDA. BNP Paribas Financial Markets bought a new stake in SunCar Technology Group during the 4th quarter valued at $69,000. Marshall Wace LLP purchased a new position in shares of SunCar Technology Group during the fourth quarter valued at $100,000. XTX Topco Ltd raised its holdings in shares of SunCar Technology Group by 21.7% in the fourth quarter. XTX Topco Ltd now owns 26,773 shares of the company’s stock valued at $258,000 after acquiring an additional 4,767 shares in the last quarter. Invesco Ltd. lifted its stake in SunCar Technology Group by 33.6% in the fourth quarter. Invesco Ltd. now owns 43,851 shares of the company’s stock worth $423,000 after acquiring an additional 11,033 shares during the period. Finally, Geode Capital Management LLC grew its holdings in SunCar Technology Group by 42.7% during the 4th quarter. Geode Capital Management LLC now owns 34,865 shares of the company’s stock worth $336,000 after acquiring an additional 10,431 shares in 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.