SunCar Technology Group (NASDAQ:SDA) Stock Price Down 3.9% – Should You Sell?

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price fell 3.9% during mid-day trading on Thursday . The company traded as low as $9.20 and last traded at $9.20. 121,078 shares changed hands during trading, a decline of 77% from the average session volume of 525,006 shares. The stock had previously closed at $9.57.

Analyst Ratings Changes

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

SunCar Technology Group Stock Up 1.6 %

The stock has a fifty day simple moving average of $9.44 and a two-hundred day simple moving average of $9.61.

Institutional Investors Weigh In On SunCar Technology Group

A number of large investors have recently modified their holdings of SDA. XTX Topco Ltd boosted its holdings in shares of SunCar Technology Group by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after purchasing an additional 3,596 shares in the last quarter. State Street Corp boosted 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 purchasing an additional 3,877 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $269,000 after purchasing an additional 1,116 shares in the last quarter. 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.