SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – Still a Buy?

SunCar Technology Group Inc. (NASDAQ:SDA) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.56, but opened at $11.00. SunCar Technology Group shares last traded at $10.12, with a volume of 28,537 shares traded.

SunCar Technology Group Stock Performance

The stock has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $8.66.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SunCar Technology Group stock. XTX Topco Ltd boosted its holdings in shares of SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,186 shares of the company’s stock after purchasing an additional 3,596 shares during the quarter. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 at the end of the most recent reporting period. 0.26% of the stock is owned by institutional investors and hedge funds.

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.