SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – Should You Buy?

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.84, but opened at $9.17. SunCar Technology Group shares last traded at $9.31, with a volume of 99,499 shares traded.

SunCar Technology Group Stock Performance

The company has a 50-day moving average of $9.61 and a 200 day moving average of $9.42.

Institutional Investors Weigh In On SunCar Technology Group

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position 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 worth $269,000 after acquiring an additional 1,116 shares during the last quarter. XTX Topco Ltd grew its position 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 valued at $166,000 after purchasing an additional 3,596 shares in the last quarter. Finally, State Street Corp increased its holdings 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 purchasing an additional 3,877 shares during the last quarter. 0.26% of the stock is currently owned by institutional investors and hedge funds.

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.