SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Up 27.6% in March

SunCar Technology Group Inc. (NASDAQ:SDA) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 204,600 shares, a growth of 27.6% from the March 15th total of 160,300 shares. Based on an average daily trading volume, of 517,200 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, BTIG Research started coverage on shares of SunCar Technology Group in a research report on Monday, December 30th. They set a “buy” rating and a $12.00 price objective on the stock.

Institutional Investors Weigh In On SunCar Technology Group

A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in SunCar Technology Group by 33.6% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in SunCar Technology Group by 42.7% in the fourth quarter. Geode Capital Management LLC now owns 34,865 shares of the company’s stock worth $336,000 after buying an additional 10,431 shares during the last quarter. XTX Topco Ltd increased its holdings in SunCar Technology Group by 21.7% in the fourth quarter. XTX Topco Ltd now owns 26,773 shares of the company’s stock worth $258,000 after buying an additional 4,767 shares during the last quarter. State Street Corp lifted its stake in SunCar Technology Group by 33.5% in the third 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. Finally, Marshall Wace LLP bought a new stake in SunCar Technology Group in the fourth quarter worth approximately $100,000. Institutional investors and hedge funds own 0.26% of the company’s stock.

SunCar Technology Group Price Performance

Shares of SDA traded down $0.04 during trading hours on Monday, reaching $2.71. The company’s stock had a trading volume of 78,616 shares, compared to its average volume of 345,079. The company has a 50 day moving average of $4.24 and a two-hundred day moving average of $7.59. SunCar Technology Group has a 1-year low of $2.41 and a 1-year high of $11.74.

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.