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

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $9.45, but opened at $10.33. SunCar Technology Group shares last traded at $9.70, with a volume of 61,802 shares changing hands.

SunCar Technology Group Stock Up 1.2 %

The business’s 50 day moving average is $10.02 and its 200-day moving average is $8.93.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SunCar Technology Group stock. XTX Topco Ltd raised its stake in SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,186 shares of the company’s stock after acquiring an additional 3,596 shares during the period. XTX Topco Ltd’s holdings in SunCar Technology Group were worth $166,000 as of its most recent SEC filing. 0.26% of the stock is owned by institutional investors and hedge funds.

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.