SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Update

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 204,600 shares, an increase of 27.6% from the March 15th total of 160,300 shares. Based on an average trading volume of 517,200 shares, the short-interest ratio is presently 0.4 days. Approximately 0.5% of the company's shares are sold short.

SunCar Technology Group Trading Up 0.4 %

Shares of SDA traded up $0.01 on Thursday, reaching $2.85. The stock had a trading volume of 118,428 shares, compared to its average volume of 343,522. SunCar Technology Group has a 12-month low of $2.41 and a 12-month high of $11.74. The company has a 50-day simple moving average of $4.10 and a 200-day simple moving average of $7.47.

Analyst Upgrades and Downgrades

Separately, BTIG Research initiated coverage on shares of SunCar Technology Group in a research note on Monday, December 30th. They issued a "buy" rating and a $12.00 price target for the company.

Hedge Funds Weigh In On SunCar Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position 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 worth $170,000 after buying an additional 3,877 shares during the period. Geode Capital Management LLC boosted its stake 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 in the last quarter. BNP Paribas Financial Markets purchased a new stake in SunCar Technology Group in the fourth quarter worth about $69,000. Marshall Wace LLP bought a new position in shares of SunCar Technology Group during the fourth quarter valued at approximately $100,000. Finally, Invesco Ltd. lifted its holdings in shares of SunCar Technology Group by 33.6% during the fourth quarter. Invesco Ltd. now owns 43,851 shares of the company's stock valued at $423,000 after purchasing an additional 11,033 shares during the last quarter. Hedge funds and other institutional investors own 0.26% of the company's stock.

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.