MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Update

MicroAlgo Inc. (NASDAQ:MLGO) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 513,219 shares, a growth of 21.9% from the January 29th total of 420,913 shares. Currently, 86.3% of the shares of the stock are short sold. Based on an average trading volume of 152,114 shares, the short-interest ratio is currently 3.4 days. Based on an average trading volume of 152,114 shares, the short-interest ratio is currently 3.4 days. Currently, 86.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

MLGO has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d)” rating on shares of MicroAlgo in a research note on Thursday, January 22nd. Wall Street Zen upgraded MicroAlgo from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

MicroAlgo Price Performance

MLGO traded down $0.04 on Tuesday, reaching $3.47. 77,380 shares of the company’s stock were exchanged, compared to its average volume of 158,641. The stock has a market cap of $2.67 million, a PE ratio of 0.00 and a beta of -1.37. MicroAlgo has a twelve month low of $3.30 and a twelve month high of $972.00. The stock’s fifty day moving average price is $4.74 and its 200-day moving average price is $7.24.

Institutional Investors Weigh In On MicroAlgo

Large investors have recently made changes to their positions in the stock. Marex Group plc acquired a new stake in shares of MicroAlgo in the second quarter valued at approximately $285,000. Murchinson Ltd. acquired a new position in MicroAlgo during the second quarter worth $153,000. Bank of America Corp DE grew its holdings in MicroAlgo by 1,021.8% in the 3rd quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock valued at $295,000 after buying an additional 29,355 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of MicroAlgo in the 3rd quarter worth $190,000. Finally, HRT Financial LP acquired a new stake in shares of MicroAlgo in the 4th quarter worth $66,000. 1.10% of the stock is currently owned by hedge funds and other institutional investors.

MicroAlgo Company Profile

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.