Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Drops By 96.9%

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 217,500 shares, a decrease of 96.9% from the November 30th total of 7,010,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is currently 0.1 days.

MicroAlgo Price Performance

NASDAQ MLGO traded up $0.10 during mid-day trading on Friday, reaching $2.95. The stock had a trading volume of 4,518,565 shares, compared to its average volume of 796,278. The company has a fifty day moving average price of $3.60 and a 200 day moving average price of $35.46. MicroAlgo has a 1 year low of $1.66 and a 1 year high of $509.60.

Hedge Funds Weigh In On MicroAlgo

A hedge fund recently bought a new stake in MicroAlgo stock. Platform Technology Partners acquired a new stake in shares of MicroAlgo Inc. (NASDAQ:MLGO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned 1.94% of MicroAlgo as of its most recent SEC filing. 1.10% of the stock is 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.