MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Down 14.0% in January

by · The Markets Daily

MicroAlgo Inc. (NASDAQ:MLGO – Get Free Report) saw a large decline in short interest in January. As of January 15th, there was short interest totaling 359,944 shares, a decline of 14.0% from the December 31st total of 418,711 shares. Based on an average daily trading volume, of 199,619 shares, the short-interest ratio is currently 1.8 days. Currently, 60.5% of the shares of the stock are sold short. Currently, 60.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 199,619 shares, the short-interest ratio is currently 1.8 days.

MicroAlgo Trading Down 4.8%

MLGO stock traded down $0.21 during midday trading on Tuesday, hitting $4.21. 179,774 shares of the company’s stock were exchanged, compared to its average volume of 179,937. MicroAlgo has a 1-year low of $4.18 and a 1-year high of $972.00. The stock has a market capitalization of $3.24 million, a PE ratio of -0.01 and a beta of -1.44. The business has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $8.25.

Hedge Funds Weigh In On MicroAlgo

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its position in MicroAlgo by 42.0% in the first quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock valued at $878,000 after purchasing an additional 10,705 shares during the period. Murchinson Ltd. acquired a new stake in shares of MicroAlgo in the second quarter valued at $153,000. Marex Group plc purchased a new stake in shares of MicroAlgo in the 2nd quarter valued at $285,000. GSA Capital Partners LLP acquired a new position in MicroAlgo during the 3rd quarter worth about $190,000. Finally, Man Group plc purchased a new position in MicroAlgo during the 3rd quarter valued at about $102,000. 1.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MLGO. Wall Street Zen raised shares of MicroAlgo from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MicroAlgo in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

View Our Latest Research Report on MicroAlgo

MicroAlgo Company Profile

(Get Free Report)

MicroAlgo Inc develops and applies central processing algorithm solutions to customers in internet advertisement, gaming, and intelligent chip industries in the People’s Republic of China, Hong Kong, and internationally. The company operates through two segments, Central Processing Algorithm Services, and Intelligent Chips and Services. It offers services that includes algorithm optimization, accelerating computing power without the need for hardware upgrades, data processing, and data intelligence services.

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