SunCar Technology Group (NASDAQ:SDA) Trading Down 5.4% – Here’s What Happened

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) traded down 5.4% during mid-day trading on Tuesday . The stock traded as low as $9.65 and last traded at $9.65. 182,418 shares traded hands during trading, a decline of 38% from the average session volume of 293,434 shares. The stock had previously closed at $10.20.

SunCar Technology Group Stock Performance

The company’s fifty day moving average is $9.91 and its 200-day moving average is $9.21.

Institutional Investors Weigh In On SunCar Technology Group

Several institutional investors have recently bought and sold shares of SDA. State Street Corp boosted its stake in SunCar Technology Group by 33.5% in the third quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after acquiring an additional 3,877 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of SunCar Technology Group by 21.0% during the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after buying an additional 3,820 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of SunCar Technology Group by 4.8% during the third 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 period. 0.26% of the stock is currently owned by institutional investors and hedge funds.

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.