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

SunCar Technology Group Inc. (NASDAQ:SDA) was the recipient of a significant decline in short interest during the month of 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 volume of 339,100 shares, the short-interest ratio is currently 0.7 days. Currently, 0.8% of the shares of the company are sold short.

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors and hedge funds 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 grew its stake 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 period. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

SunCar Technology Group Stock Up 3.1 %

SunCar Technology Group stock traded up $0.29 during midday trading on Friday, reaching $9.57. 417,082 shares of the company traded hands, 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 business has a 50 day moving average of $9.60 and a two-hundred 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.