SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 140,300 shares, a decline of 43.3% from the February 13th total of 247,400 shares. Based on an average daily trading volume, of 579,300 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SDA. State Street Corp lifted its holdings in shares of SunCar Technology Group by 33.5% in 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. Geode Capital Management LLC boosted 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 worth $269,000 after purchasing an additional 1,116 shares in the last quarter. XTX Topco Ltd grew its stake in shares of SunCar Technology Group by 21.0% during the 3rd quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after purchasing an additional 3,820 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of SunCar Technology Group in the 4th quarter valued at about $69,000. Finally, Marshall Wace LLP acquired a new stake in shares of SunCar Technology Group in the fourth quarter valued at about $100,000. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SunCar Technology Group Stock Down 4.1 %

SDA stock opened at $4.73 on Friday. The business’s 50-day moving average is $7.14 and its two-hundred day moving average is $8.86. SunCar Technology Group has a 1 year low of $4.15 and a 1 year high of $11.74.

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.