SunCar Technology Group (NASDAQ:SDA) Sees Large Volume Increase – Time to Buy?

SunCar Technology Group Inc. (NASDAQ:SDA) shares saw unusually-high trading volume on Thursday . Approximately 908,955 shares were traded during mid-day 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 started coverage on SunCar Technology Group in a research note on Monday, December 30th. They issued a “buy” rating and a $12.00 price target on the stock.

SunCar Technology Group Trading Down 36.7 %

The stock’s fifty day simple moving average is $9.40 and its two-hundred day simple moving average is $9.69.

Institutional Investors Weigh In On SunCar Technology Group

A number of institutional investors have recently added to or reduced their stakes in SDA. State Street Corp raised its holdings in SunCar Technology Group by 33.5% during the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after buying an additional 3,877 shares during the period. XTX Topco Ltd boosted its position in shares of SunCar Technology Group by 21.0% in the third quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock worth $243,000 after buying an additional 3,820 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $269,000 after buying an additional 1,116 shares in the last quarter. 0.26% of the stock is currently owned by institutional investors and hedge funds.

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.