SunCar Technology Group Inc. (NASDAQ:SDA – Get Free Report) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 140,300 shares, a drop of 43.3% from the February 13th total of 247,400 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 579,300 shares, the short-interest ratio is currently 0.2 days.
Analyst Upgrades and Downgrades
Separately, BTIG Research started coverage on shares of SunCar Technology Group in a research note on Monday, December 30th. They set a “buy” rating and a $12.00 price target on the stock.
Check Out Our Latest Analysis on SunCar Technology Group
SunCar Technology Group Stock Performance
Hedge Funds Weigh In On SunCar Technology Group
Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in shares of SunCar Technology Group by 33.5% in the 3rd 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 raised 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 valued at $243,000 after acquiring an additional 3,820 shares during the period. Geode Capital Management LLC raised its stake in shares of SunCar Technology Group by 4.8% in the 3rd 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. Invesco Ltd. raised its stake in shares of SunCar Technology Group by 33.6% in the 4th quarter. Invesco Ltd. now owns 43,851 shares of the company’s stock valued at $423,000 after acquiring an additional 11,033 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of SunCar Technology Group in the 4th quarter valued at $100,000. 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.
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