Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Grows By 143.9%

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,390,000 shares, a growth of 143.9% from the October 15th total of 1,390,000 shares. Based on an average daily trading volume, of 31,360,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of MicroAlgo

A hedge fund recently bought a new stake in MicroAlgo stock. Platform Technology Partners acquired a new position in shares of MicroAlgo Inc. (NASDAQ:MLGO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned approximately 1.94% of MicroAlgo at the end of the most recent quarter. 1.10% of the stock is currently owned by hedge funds and other institutional investors.

MicroAlgo Stock Down 4.0 %

Shares of MicroAlgo stock traded down $0.01 on Wednesday, reaching $0.19. 10,590,608 shares of the company were exchanged, compared to its average volume of 13,174,261. The company’s 50-day moving average is $0.27 and its two-hundred day moving average is $2.40. MicroAlgo has a 1-year low of $0.18 and a 1-year high of $156.00.

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.