SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – What’s Next?

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $9.77, but opened at $9.57. SunCar Technology Group shares last traded at $9.46, with a volume of 198,357 shares traded.

Analyst Upgrades and Downgrades

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

SunCar Technology Group Stock Down 3.6 %

The business has a fifty day moving average price of $9.45 and a 200 day moving average price of $9.65.

Institutional Investors Weigh In On SunCar Technology Group

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised 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 valued at $166,000 after buying an additional 3,596 shares during the period. State Street Corp raised its holdings 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 buying an additional 3,877 shares during the period. Finally, Geode Capital Management LLC increased its holdings in SunCar Technology Group by 4.8% during 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. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

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.