SunCar Technology Group (NASDAQ:SDA) Stock Price Down 3.3% – Here’s Why

SunCar Technology Group Inc. (NASDAQ:SDA)’s share price fell 3.3% on Friday . The stock traded as low as $10.70 and last traded at $10.82. 107,225 shares traded hands during trading, a decline of 62% from the average session volume of 281,871 shares. The stock had previously closed at $11.19.

SunCar Technology Group Stock Performance

The firm has a 50 day moving average price of $9.91 and a two-hundred day moving average price of $8.61.

Hedge Funds Weigh In On SunCar Technology Group

An institutional investor recently raised its position in SunCar Technology Group stock. XTX Topco Ltd lifted its stake in shares of SunCar Technology Group Inc. (NASDAQ:SDA) by 24.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,186 shares of the company’s stock after acquiring 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. 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.