SunCar Technology Group (NASDAQ:SDA) Stock Price Down 5.4% – Here’s Why

SunCar Technology Group Inc. (NASDAQ:SDA) dropped 5.4% during trading on Tuesday . The stock traded as low as $9.65 and last traded at $9.65. Approximately 182,418 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 293,434 shares. The stock had previously closed at $10.20.

SunCar Technology Group Price Performance

The company’s fifty day moving average price is $9.93 and its 200 day moving average price is $9.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SDA. XTX Topco Ltd raised its holdings in shares of 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 purchasing an additional 3,596 shares in the last quarter. State Street Corp raised its holdings 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 worth $170,000 after purchasing an additional 3,877 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 worth $269,000 after purchasing an additional 1,116 shares in the last quarter. 0.26% of the stock is 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.