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

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) gapped down before the market opened on Thursday . The stock had previously closed at $9.65, but opened at $9.35. SunCar Technology Group shares last traded at $9.52, with a volume of 95,785 shares.

Wall Street Analyst Weigh In

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

SunCar Technology Group Stock Performance

The stock has a 50-day moving average price of $9.57 and a 200-day moving average price of $9.55.

Hedge Funds Weigh In On SunCar Technology Group

Several large investors have recently modified their holdings of the stock. XTX Topco Ltd lifted its stake in SunCar Technology Group by 24.6% during the second quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after purchasing an additional 3,596 shares during the last quarter. State Street Corp raised its holdings in shares of SunCar Technology Group by 33.5% during the third 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. Finally, Geode Capital Management LLC lifted its position in shares of SunCar Technology Group by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock worth $269,000 after buying an additional 1,116 shares during the last quarter. Institutional investors 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.