Short Interest in SunCar Technology Group Inc. (NASDAQ:SDA) Decreases By 20.3%

SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 125,000 shares, a drop of 20.3% from the April 30th total of 156,900 shares. Approximately 0.4% of the company's stock are short sold. Based on an average daily volume of 182,800 shares, the short-interest ratio is presently 0.7 days.

SunCar Technology Group Price Performance

SDA stock traded down $0.01 during mid-day trading on Tuesday, reaching $2.72. 64,885 shares of the stock traded hands, compared to its average volume of 327,691. The stock's fifty day moving average is $3.01 and its 200-day moving average is $6.09. SunCar Technology Group has a 52-week low of $2.41 and a 52-week high of $11.74.

SunCar Technology Group (NASDAQ:SDA - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.03) EPS for the quarter. The company had revenue of $102.60 million for the quarter. On average, analysts forecast that SunCar Technology Group will post 0.11 earnings per share for the current year.

Institutional Trading of SunCar Technology Group

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in shares of SunCar Technology Group in the 4th quarter valued at approximately $69,000. Marshall Wace LLP bought a new position in SunCar Technology Group in the 4th quarter valued at approximately $100,000. XTX Topco Ltd grew its stake in shares of SunCar Technology Group by 17.2% during the first quarter. XTX Topco Ltd now owns 31,389 shares of the company's stock worth $129,000 after buying an additional 4,616 shares during the last quarter. Invesco Ltd. increased its holdings in shares of SunCar Technology Group by 11.8% during the first quarter. Invesco Ltd. now owns 49,008 shares of the company's stock worth $202,000 after buying an additional 5,157 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of SunCar Technology Group by 42.7% during the 4th quarter. Geode Capital Management LLC now owns 34,865 shares of the company's stock valued at $336,000 after acquiring an additional 10,431 shares in the last quarter. 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.