SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

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

Wall Street Analysts Forecast Growth

Separately, BTIG Research assumed coverage on SunCar Technology Group in a research note on Monday. They issued a “buy” rating and a $12.00 price target for the company.

Institutional Investors Weigh In On SunCar Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 during the last quarter. XTX Topco Ltd lifted its position in SunCar Technology Group by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock valued at $166,000 after acquiring an additional 3,596 shares in the last quarter. Finally, State Street Corp boosted its position in shares of SunCar Technology Group by 33.5% during the third quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after buying an additional 3,877 shares during the last quarter. Hedge funds and other institutional investors own 0.26% of the company’s stock.

SunCar Technology Group Trading Up 0.7 %

Shares of NASDAQ SDA traded up $0.07 during mid-day trading on Tuesday, hitting $9.53. 410,419 shares of the stock traded hands, compared to its average volume of 298,395. SunCar Technology Group has a 52 week low of $5.71 and a 52 week high of $11.74. The stock has a fifty day moving average price of $9.60 and a 200-day moving average price of $9.53.

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.