Shares of SunCar Technology Group Inc. (NASDAQ:SDA - Get Free Report) were down 2% on Wednesday . The stock traded as low as $2.42 and last traded at $2.50. Approximately 136,325 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 314,568 shares. The stock had previously closed at $2.55.
Wall Street Analysts Forecast Growth
Separately, Oppenheimer initiated coverage on shares of SunCar Technology Group in a report on Tuesday, June 10th. They set an "outperform" rating and a $3.50 target price on the stock.
Check Out Our Latest Stock Report on SunCar Technology Group
SunCar Technology Group Stock Performance
The company's fifty day moving average is $2.77 and its 200-day moving average is $5.07.
SunCar Technology Group (NASDAQ:SDA - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $102.60 million during the quarter. As a group, equities analysts predict that SunCar Technology Group Inc. will post 0.11 EPS for the current year.
Institutional Investors Weigh In On SunCar Technology Group
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of SunCar Technology Group during the fourth quarter valued at about $69,000. Marshall Wace LLP bought a new position in shares of SunCar Technology Group during the 4th quarter worth approximately $100,000. XTX Topco Ltd lifted its position in SunCar Technology Group by 21.7% during the fourth quarter. XTX Topco Ltd now owns 26,773 shares of the company's stock valued at $258,000 after acquiring an additional 4,767 shares during the last quarter. Geode Capital Management LLC lifted its position in SunCar Technology Group by 42.7% during the fourth 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 during the last quarter. Finally, Invesco Ltd. boosted its stake in SunCar Technology Group by 33.6% in the fourth quarter. Invesco Ltd. now owns 43,851 shares of the company's stock valued at $423,000 after acquiring an additional 11,033 shares in the last quarter. Institutional investors own 0.26% of the company's stock.
SunCar Technology Group Company Profile
(
Get Free Report)
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.
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