MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Update

MicroAlgo Inc. (NASDAQ:MLGO) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 1,840,000 shares, a decline of 50.3% from the February 28th total of 3,700,000 shares. Based on an average daily volume of 20,490,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 924.6% of the shares of the company are short sold.

MicroAlgo Stock Performance

Shares of MLGO stock traded up $1.41 during trading hours on Friday, reaching $17.35. 42,600,199 shares of the company’s stock were exchanged, compared to its average volume of 6,617,275. The company’s 50 day moving average is $3.85 and its two-hundred day moving average is $3.95. MicroAlgo has a 1 year low of $1.11 and a 1 year high of $509.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of MicroAlgo during the 4th quarter worth $93,000. Jane Street Group LLC grew its position in MicroAlgo by 117.3% during the fourth quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock worth $96,000 after buying an additional 13,765 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in MicroAlgo in the fourth quarter valued at about $319,000. Hedge funds and other institutional investors own 1.10% of the company’s stock.

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.