MicroAlgo (NASDAQ:MLGO) Announces Earnings Results

MicroAlgo (NASDAQ:MLGO) announced its earnings results on Friday. The company reported ($1.39) EPS for the quarter, FiscalAI reports. The firm had revenue of $10.06 million for the quarter.

MicroAlgo Price Performance

Shares of MicroAlgo stock opened at $4.04 on Friday. MicroAlgo has a 1 year low of $3.02 and a 1 year high of $13.60. The firm has a market cap of $3.11 million, a PE ratio of -0.01 and a beta of -0.88. The stock has a fifty day moving average price of $4.14 and a 200-day moving average price of $4.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of MicroAlgo from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, MicroAlgo presently has a consensus rating of “Sell”.

Institutional Trading of MicroAlgo

Large investors have recently added to or reduced their stakes in the stock. Murchinson Ltd. bought a new stake in MicroAlgo in the second quarter worth about $153,000. Bank of America Corp DE grew its position in shares of MicroAlgo by 1,021.8% during the 3rd quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock valued at $295,000 after acquiring an additional 29,355 shares during the period. HRT Financial LP bought a new position in shares of MicroAlgo during the 4th quarter valued at approximately $66,000. Man Group plc purchased a new stake in shares of MicroAlgo during the 3rd quarter worth approximately $102,000. Finally, Jane Street Group LLC increased its stake in shares of MicroAlgo by 42.0% during the 1st quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock worth $878,000 after purchasing an additional 10,705 shares during the last quarter. 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. It offers services that includes algorithm optimization, accelerating computing power without the need for hardware upgrades, data processing, and data intelligence services.