Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Expands By 115.3%

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,100,000 shares, an increase 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 currently 0.3 days.

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 MicroAlgo Inc. (NASDAQ:MLGO) in the 3rd 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 approximately 1.94% of MicroAlgo at the end of the most recent reporting period. 1.10% of the stock is currently owned by institutional investors.

MicroAlgo Stock Up 4.5 %

MicroAlgo stock traded up $0.06 during trading on Thursday, reaching $1.28. The stock had a trading volume of 1,218,017 shares, compared to its average volume of 4,853,863. The business has a 50 day moving average price of $2.16 and a 200 day moving average price of $5.91. MicroAlgo has a 52-week low of $1.19 and a 52-week high of $509.60.

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.