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

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.28, but opened at $9.49. SunCar Technology Group shares last traded at $9.71, with a volume of 48,393 shares traded.

SunCar Technology Group Trading Up 3.1 %

The stock’s fifty day simple moving average is $9.60 and its 200-day simple moving average is $9.50.

Hedge Funds Weigh In On SunCar Technology Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDA. XTX Topco Ltd lifted its stake in 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 buying an additional 3,596 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $269,000 after acquiring an additional 1,116 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of SunCar Technology Group by 33.5% in the 3rd quarter. State Street Corp now owns 15,461 shares of the company’s stock valued at $170,000 after acquiring an additional 3,877 shares during the period. 0.26% of the stock is 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.