SunCar Technology Group Inc. (NASDAQ:SDA) Sees Large Growth in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 243,900 shares, an increase of 15.6% from the August 15th total of 211,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 239,400 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SunCar Technology Group stock. XTX Topco Ltd boosted its position in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,186 shares of the company’s stock after acquiring an additional 3,596 shares during the quarter. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 at the end of the most recent reporting period. 0.26% of the stock is owned by institutional investors and hedge funds.

SunCar Technology Group Stock Down 5.0 %

SDA traded down $0.49 on Monday, reaching $9.33. The company had a trading volume of 155,892 shares, compared to its average volume of 282,138. The company’s fifty day moving average is $9.56 and its 200 day moving average is $8.29. SunCar Technology Group has a fifty-two week low of $5.43 and a fifty-two week high of $11.99.

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.