SunCar Technology Group (NASDAQ:SDA) Trading Down 5.9% – Here’s What Happened

SunCar Technology Group Inc. (NASDAQ:SDA) shares fell 5.9% during trading on Monday . The company traded as low as $8.80 and last traded at $8.80. 61,107 shares changed hands during trading, a decline of 79% from the average session volume of 295,036 shares. The stock had previously closed at $9.35.

SunCar Technology Group Price Performance

The company’s 50 day moving average is $9.59 and its two-hundred day moving average is $9.46.

Institutional Trading of SunCar Technology Group

A number of hedge funds have recently modified their holdings of the company. XTX Topco Ltd lifted its holdings 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 acquiring an additional 3,596 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 1,116 shares during the period. Finally, State Street Corp boosted its holdings in SunCar Technology Group by 33.5% during the third quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after purchasing an additional 3,877 shares in the last quarter. Institutional investors own 0.26% of the company’s stock.

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.