MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Update

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

MicroAlgo Trading Up 1.7%

Shares of NASDAQ MLGO opened at $4.28 on Thursday. The firm has a market capitalization of $3.30 million, a P/E ratio of -0.01 and a beta of -1.44. The firm’s 50-day moving average price is $5.78 and its 200-day moving average price is $8.15. MicroAlgo has a 1-year low of $4.10 and a 1-year high of $972.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLGO. Marex Group plc acquired a new stake in MicroAlgo in the 2nd quarter valued at $285,000. Murchinson Ltd. acquired a new position in MicroAlgo during the second quarter worth $153,000. Bank of America Corp DE lifted its stake in shares of MicroAlgo by 1,021.8% in the third quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock valued at $295,000 after buying an additional 29,355 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of MicroAlgo during the third quarter valued at about $190,000. Finally, Man Group plc bought a new stake in shares of MicroAlgo during the third quarter worth about $102,000. Institutional investors own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLGO. Weiss Ratings reissued a “sell (d)” rating on shares of MicroAlgo in a research note on Thursday, January 22nd. Wall Street Zen upgraded MicroAlgo from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock 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.