SunCar Technology Group (NASDAQ:SDA) Trading Up 3.9% – Should You Buy?

SunCar Technology Group Inc. (NASDAQ:SDA) was up 3.9% during mid-day trading on Wednesday . The company traded as high as $9.63 and last traded at $9.53. Approximately 116,310 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 446,478 shares. The stock had previously closed at $9.17.

Wall Street Analyst Weigh In

Separately, BTIG Research initiated coverage on shares of 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 Price Performance

The business’s fifty day moving average price is $9.51 and its 200 day moving average price is $9.60.

Institutional Trading of SunCar Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in SDA. State Street Corp lifted its holdings in SunCar Technology Group by 33.5% in the third quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after acquiring an additional 3,877 shares during the period. XTX Topco Ltd lifted its stake in shares of SunCar Technology Group by 24.6% in the second 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 during the period. Finally, Geode Capital Management LLC boosted its holdings in SunCar Technology Group by 4.8% during the third 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 in the last quarter. Hedge funds and other 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.