SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Up 18.7% in January

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 220,800 shares, a growth of 18.7% from the December 31st total of 186,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 412,200 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, BTIG Research began 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 Stock Performance

NASDAQ SDA traded up $0.12 during trading hours on Monday, hitting $10.15. The company had a trading volume of 666,122 shares, compared to its average volume of 584,358. The business has a 50 day moving average of $9.43 and a 200-day moving average of $9.68. SunCar Technology Group has a 1-year low of $5.71 and a 1-year high of $11.74.

Institutional Trading of SunCar Technology Group

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings 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 worth $269,000 after purchasing an additional 1,116 shares during the period. XTX Topco Ltd lifted its stake in shares of SunCar Technology Group by 21.0% in the 3rd quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after acquiring an additional 3,820 shares during the period. Finally, State Street Corp boosted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 0.26% of the company’s stock.

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.