SunCar Technology Group (NASDAQ:SDA) Sees Unusually-High Trading Volume – What’s Next?

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) saw an uptick in trading volume on Thursday . 908,955 shares changed hands during trading, an increase of 45% from the previous session’s volume of 626,322 shares.The stock last traded at $6.24 and had previously closed at $8.44.

Analyst Ratings Changes

Separately, BTIG Research assumed coverage on SunCar Technology Group in a 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 $9.29 and a two-hundred day moving average price of $9.66.

Hedge Funds Weigh In On SunCar Technology Group

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of SunCar Technology Group by 33.5% during 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 during the period. XTX Topco Ltd raised its holdings in SunCar Technology Group by 21.0% during the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock valued at $243,000 after acquiring an additional 3,820 shares during the period. Finally, Geode Capital Management LLC raised 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 valued at $269,000 after acquiring an additional 1,116 shares during the period. 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.