SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – Here’s What Happened

Shares of SunCar Technology Group Inc. (NASDAQ:SDA) gapped up before the market opened on Wednesday . The stock had previously closed at $8.84, but opened at $9.17. SunCar Technology Group shares last traded at $9.31, with a volume of 99,499 shares changing hands.

SunCar Technology Group Stock Performance

The company’s 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $9.43.

Hedge Funds Weigh In On SunCar Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised 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 acquiring an additional 3,877 shares in the last quarter. 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 worth $166,000 after purchasing an additional 3,596 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 in the last quarter. 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.