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

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

Institutional Investors Weigh In On MicroAlgo

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in MicroAlgo by 1,021.8% during the third quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock worth $295,000 after purchasing an additional 29,355 shares in the last quarter. Man Group plc acquired a new stake in MicroAlgo in the 3rd quarter valued at $102,000. GSA Capital Partners LLP acquired a new position in MicroAlgo during the third quarter worth $190,000. Marex Group plc purchased a new position in MicroAlgo during the second quarter valued at $285,000. Finally, Murchinson Ltd. acquired a new stake in shares of MicroAlgo in the second quarter valued at about $153,000. 1.10% of the stock is currently owned by institutional investors and hedge funds.

MicroAlgo Stock Performance

Shares of MLGO traded down $0.21 during trading hours on Tuesday, hitting $4.21. The stock had a trading volume of 179,774 shares, compared to its average volume of 179,937. The firm has a 50-day moving average price of $5.88 and a 200 day moving average price of $8.25. MicroAlgo has a fifty-two week low of $4.18 and a fifty-two week high of $972.00. The firm has a market capitalization of $3.24 million, a price-to-earnings ratio of -0.01 and a beta of -1.44.

Analyst Upgrades and Downgrades

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

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.