Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Increases By 24.3%

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 369,300 shares, an increase of 24.3% from the September 30th total of 297,100 shares. Based on an average trading volume of 273,500 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SunCar Technology Group stock. XTX Topco Ltd raised its stake in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,186 shares of the company’s stock after acquiring an additional 3,596 shares during the period. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.26% of the stock is currently owned by hedge funds and other institutional investors.

SunCar Technology Group Stock Performance

SunCar Technology Group stock traded down $0.32 during mid-day trading on Wednesday, hitting $9.81. The company had a trading volume of 51,489 shares, compared to its average volume of 287,149. SunCar Technology Group has a 1 year low of $5.43 and a 1 year high of $11.74. The business has a fifty day moving average of $10.02 and a 200 day moving average of $8.97.

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.