MicroAlgo Inc. (NASDAQ:MLGO – Get Free Report) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 4,940,000 shares, an increase of 39.2% from the May 15th total of 3,550,000 shares. Approximately 2,482.4% of the shares of the stock are short sold. Based on an average daily volume of 30,280,000 shares, the short-interest ratio is presently 0.2 days.
MicroAlgo Trading Down 26.4%
MLGO stock traded down $0.23 during midday trading on Monday, hitting $0.63. The company’s stock had a trading volume of 89,521,063 shares, compared to its average volume of 12,959,902. MicroAlgo has a 12 month low of $0.60 and a 12 month high of $509.60. The company has a 50 day moving average of $5.20 and a two-hundred day moving average of $4.83.
Hedge Funds Weigh In On MicroAlgo
Several hedge funds have recently modified their holdings of MLGO. Jane Street Group LLC increased its stake in MicroAlgo by 117.3% in the 4th quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock worth $96,000 after acquiring an additional 13,765 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of MicroAlgo in the 4th quarter worth $319,000. Virtu Financial LLC bought a new stake in shares of MicroAlgo in the 4th quarter worth about $93,000. Anson Funds Management LP purchased a new stake in shares of MicroAlgo during the 1st quarter valued at about $728,000. Finally, Sassicaia Capital Advisers LLC purchased a new stake in shares of MicroAlgo during the 1st quarter valued at about $233,000. Hedge funds and other institutional investors own 1.10% of the company’s stock.
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.
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