SunCar Technology Group (NASDAQ:SDA) Shares Gap Up – Still a Buy?

SunCar Technology Group Inc. (NASDAQ:SDA)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.18, but opened at $9.49. SunCar Technology Group shares last traded at $9.56, with a volume of 93,467 shares traded.

SunCar Technology Group Stock Performance

The company’s 50 day moving average is $10.01 and its 200 day moving average is $8.88.

Institutional Investors Weigh In On SunCar Technology Group

An institutional investor recently raised its position in SunCar Technology Group stock. XTX Topco Ltd raised its stake in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,186 shares of the company’s stock after purchasing an additional 3,596 shares during the quarter. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 0.26% of the company’s stock.

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.