SunCar Technology Group Inc. (NASDAQ:SDA) Sees Large Decrease in Short Interest

SunCar Technology Group Inc. (NASDAQ:SDA) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 269,600 shares, a decline of 26.1% from the October 31st total of 364,700 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 312,400 shares, the days-to-cover ratio is presently 0.9 days.

SunCar Technology Group Price Performance

Shares of SDA stock traded down $0.05 during trading hours on Friday, reaching $10.42. 164,871 shares of the stock were exchanged, compared to its average volume of 339,338. SunCar Technology Group has a 12-month low of $5.71 and a 12-month high of $11.74. The company’s 50-day moving average price is $10.00 and its 200-day moving average price is $9.34.

Institutional Investors Weigh In On SunCar Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of SDA. State Street Corp grew its position in 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 last quarter. XTX Topco Ltd increased its stake in SunCar Technology Group by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 18,186 shares of the company’s stock worth $166,000 after buying an additional 3,596 shares during the period. Finally, Geode Capital Management LLC increased its stake in SunCar Technology Group by 4.8% in the 3rd 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 during the period. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

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.