Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Declines By 25.6%

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 186,000 shares, a drop of 25.6% from the December 15th total of 249,900 shares. Based on an average daily trading volume, of 370,100 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, BTIG Research began coverage on shares of SunCar Technology Group in a research note on Monday, December 30th. They set a “buy” rating and a $12.00 target price on the stock.

Institutional Trading of SunCar Technology Group

Large investors have recently modified their holdings of the company. XTX Topco Ltd increased its position in SunCar Technology Group by 24.6% during the second quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after acquiring an additional 3,596 shares during the last quarter. State Street Corp grew its stake in shares of SunCar Technology Group by 33.5% during the 3rd 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 during the period. Finally, Geode Capital Management LLC increased its position in shares of SunCar Technology Group by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Trading Up 3.9 %

NASDAQ:SDA traded up $0.36 during trading hours on Wednesday, reaching $9.57. The company had a trading volume of 653,948 shares, compared to its average volume of 579,828. The firm’s 50 day moving average price is $9.44 and its 200-day moving average price is $9.61. SunCar Technology Group has a 52 week low of $5.71 and a 52 week high of $11.74.

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.