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

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 249,900 shares, a decline of 20.1% from the November 30th total of 312,600 shares. Based on an average daily trading volume, of 339,100 shares, the short-interest ratio is currently 0.7 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Trading of SunCar Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in SDA. Geode Capital Management LLC raised its position in shares of SunCar Technology Group by 4.8% in the 3rd 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 last quarter. XTX Topco Ltd increased its stake in SunCar Technology Group by 21.0% during the 3rd quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock valued at $243,000 after purchasing an additional 3,820 shares in the last quarter. Finally, State Street Corp raised its holdings in SunCar Technology Group by 33.5% in the third quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after buying an additional 3,877 shares during the last quarter. Hedge funds and other institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Stock Up 3.1 %

Shares of NASDAQ:SDA traded up $0.29 during midday trading on Friday, reaching $9.57. The company’s stock had a trading volume of 417,082 shares, compared to its average volume of 297,033. SunCar Technology Group has a 12-month low of $5.71 and a 12-month high of $11.74. The firm has a 50 day moving average of $9.60 and a 200-day moving average of $9.52.

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.