SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 20.1% in December

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 249,900 shares, a decrease of 20.1% from the November 30th total of 312,600 shares. Based on an average trading volume of 339,100 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Trading of SunCar Technology Group

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its position in SunCar Technology Group by 24.6% in the second quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after buying an additional 3,596 shares during the last quarter. State Street Corp increased its holdings in 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 acquiring an additional 3,877 shares during the last quarter. Finally, Geode Capital Management LLC lifted 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 purchasing an additional 1,116 shares during the last quarter. Hedge funds and other institutional investors own 0.26% of the company’s stock.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on shares of SunCar Technology Group in a research note on Monday. They set a “buy” rating and a $12.00 target price on the stock.

SunCar Technology Group Trading Down 1.1 %

SDA stock traded down $0.11 during trading on Monday, reaching $9.46. The stock had a trading volume of 527,142 shares, compared to its average volume of 297,949. SunCar Technology Group has a one year low of $5.71 and a one year high of $11.74. The company’s 50 day moving average is $9.60 and its two-hundred day moving average is $9.53.

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.