SunCar Technology Group (NASDAQ:SDA) Shares Gap Down – Should You Sell?

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) gapped down before the market opened on Thursday . The stock had previously closed at $9.65, but opened at $9.35. SunCar Technology Group shares last traded at $9.52, with a volume of 95,785 shares.

Analyst Upgrades and Downgrades

Separately, BTIG Research initiated coverage on SunCar Technology Group in a report on Monday. They issued a “buy” rating and a $12.00 price objective for the company.

SunCar Technology Group Stock Performance

The firm’s 50 day simple moving average is $9.60 and its 200 day simple moving average is $9.55.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SDA. XTX Topco Ltd increased its stake in shares of 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 period. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 1,116 shares during the last quarter. Finally, State Street Corp increased its position in shares of SunCar Technology Group by 33.5% in the third 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. Hedge funds and other institutional investors own 0.26% of the company’s stock.

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.