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

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $9.84, but opened at $9.54. SunCar Technology Group shares last traded at $9.70, with a volume of 153,756 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, BTIG Research started coverage on SunCar Technology Group in a research note on Monday, December 30th. They issued a “buy” rating and a $12.00 price objective on the stock.

SunCar Technology Group Stock Up 3.9 %

The stock has a fifty day moving average price of $9.44 and a two-hundred day moving average price of $9.61.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. XTX Topco Ltd increased its position in shares of SunCar Technology Group by 24.6% during the second 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 during the last quarter. State Street Corp increased its position in SunCar Technology Group by 33.5% in the third quarter. State Street Corp now owns 15,461 shares of the company’s stock worth $170,000 after buying an additional 3,877 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in SunCar Technology Group by 4.8% in the third quarter. Geode Capital Management LLC now owns 24,434 shares of the company’s stock worth $269,000 after buying an additional 1,116 shares during the last quarter. Institutional investors own 0.26% of the company’s stock.

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.