MicroAlgo Inc. (NASDAQ:MLGO) Sees Large Increase in Short Interest

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,100,000 shares, a growth of 115.3% from the January 15th total of 510,900 shares. Based on an average daily trading volume, of 3,670,000 shares, the short-interest ratio is presently 0.3 days.

MicroAlgo Trading Up 4.5 %

NASDAQ MLGO traded up $0.06 during trading hours on Thursday, hitting $1.28. 1,218,017 shares of the stock were exchanged, compared to its average volume of 4,853,863. The stock has a 50-day moving average of $2.16 and a 200 day moving average of $5.91. MicroAlgo has a 12-month low of $1.19 and a 12-month high of $509.60.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MicroAlgo stock. Platform Technology Partners purchased a new stake in MicroAlgo Inc. (NASDAQ:MLGO) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned approximately 1.94% of MicroAlgo as of its most recent SEC filing. 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.