Platform Technology Partners Sells 225,200 Shares of MicroAlgo Inc. $MLGO

Platform Technology Partners decreased its stake in MicroAlgo Inc. (NASDAQ:MLGO) by 93.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,800 shares of the company’s stock after selling 225,200 shares during the quarter. Platform Technology Partners owned approximately 1.92% of MicroAlgo worth $135,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MLGO. Marex Group plc bought a new position in shares of MicroAlgo in the 2nd quarter valued at about $285,000. Jane Street Group LLC boosted its position in MicroAlgo by 42.0% during the first quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock worth $878,000 after purchasing an additional 10,705 shares during the period. Finally, Murchinson Ltd. acquired a new position in shares of MicroAlgo in the second quarter valued at $153,000. Institutional investors and hedge funds own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of MicroAlgo in a report on Wednesday, October 8th. Wall Street Zen upgraded MicroAlgo from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

MicroAlgo Price Performance

Shares of MLGO stock opened at $5.25 on Wednesday. The firm has a 50-day moving average of $6.18 and a 200-day moving average of $9.20. MicroAlgo Inc. has a one year low of $4.30 and a one year high of $972.00. The company has a market cap of $4.04 million, a P/E ratio of -0.01 and a beta of -1.44.

About MicroAlgo

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.