SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Up 15.6% in August

SunCar Technology Group Inc. (NASDAQ:SDA) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 243,900 shares, an increase of 15.6% from the August 15th total of 211,000 shares. Based on an average daily trading volume, of 239,400 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.4% of the company’s stock are sold short.

Institutional Investors Weigh In On SunCar Technology Group

A hedge fund recently raised its stake in SunCar Technology Group stock. XTX Topco Ltd boosted its holdings in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,186 shares of the company’s stock after acquiring an additional 3,596 shares during the period. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 as of its most recent filing with the Securities and Exchange Commission. 0.26% of the stock is currently owned by institutional investors and hedge funds.

SunCar Technology Group Stock Performance

SDA stock traded down $0.42 during trading hours on Monday, reaching $9.40. The stock had a trading volume of 140,084 shares, compared to its average volume of 282,004. The stock has a 50-day simple moving average of $9.56 and a 200 day simple moving average of $8.29. SunCar Technology Group has a fifty-two week low of $5.43 and a fifty-two week high of $11.99.

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.