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

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price rose 3.9% on Wednesday . The stock traded as high as $9.63 and last traded at $9.53. Approximately 116,310 shares traded 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.

Analysts Set New Price Targets

Separately, BTIG Research started 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 for the company.

SunCar Technology Group Trading Up 0.5 %

The business’s 50-day moving average is $9.53 and its 200-day moving average is $9.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SDA. Geode Capital Management LLC boosted its stake 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 acquiring an additional 1,116 shares in the last quarter. XTX Topco Ltd increased its holdings in SunCar Technology Group by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after acquiring an additional 3,596 shares in the last quarter. Finally, State Street Corp raised its position in 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 acquiring an additional 3,877 shares during the period. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

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.