SunCar Technology Group Inc. (NASDAQ:SDA) Short Interest Down 43.3% in February

SunCar Technology Group Inc. (NASDAQ:SDA) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 140,300 shares, a drop of 43.3% from the February 13th total of 247,400 shares. Based on an average trading volume of 579,300 shares, the short-interest ratio is currently 0.2 days. Approximately 0.4% of the company’s stock are sold short.

SunCar Technology Group Stock Down 1.5 %

Shares of NASDAQ:SDA traded down $0.07 during mid-day trading on Friday, reaching $4.66. 233,190 shares of the stock were exchanged, compared to its average volume of 353,762. The stock’s 50 day simple moving average is $7.05 and its 200-day simple moving average is $8.81. SunCar Technology Group has a one year low of $4.15 and a one year high of $11.74.

Hedge Funds Weigh In On SunCar Technology Group

A number of large investors have recently bought and sold shares of SDA. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 1,116 shares in the last quarter. XTX Topco Ltd increased its stake in SunCar Technology Group by 21.0% in the 3rd quarter. XTX Topco Ltd now owns 22,006 shares of the company’s stock valued at $243,000 after buying an additional 3,820 shares during the last quarter. State Street Corp lifted its position in SunCar Technology Group by 33.5% during 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 in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of SunCar Technology Group during the 4th quarter worth about $69,000. Finally, Marshall Wace LLP bought a new position in shares of SunCar Technology Group in the 4th quarter valued at about $100,000. Institutional investors and hedge funds own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.