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

SunCar Technology Group Inc. (NASDAQ:SDA) gapped down before the market opened on Wednesday . The stock had previously closed at $10.30, but opened at $8.51. SunCar Technology Group shares last traded at $8.35, with a volume of 225,879 shares.

Analyst Upgrades and Downgrades

Separately, BTIG Research initiated coverage on shares of SunCar Technology Group in a report on Monday, December 30th. They issued a “buy” rating and a $12.00 price objective for the company.

SunCar Technology Group Trading Up 2.3 %

The stock’s fifty day moving average price is $9.40 and its 200-day moving average price is $9.69.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SDA. Geode Capital Management LLC increased its position in shares of SunCar Technology Group by 4.8% during the third quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock valued at $269,000 after acquiring an additional 1,116 shares during the last quarter. XTX Topco Ltd boosted its position 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. Finally, State Street Corp boosted its position 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 worth $170,000 after purchasing an additional 3,877 shares during the period. Institutional investors and hedge funds own 0.26% of the company’s stock.

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.