MicroAlgo Target of Unusually Large Options Trading (NASDAQ:MLGO)

MicroAlgo Inc. (NASDAQ:MLGO) saw unusually large options trading on Monday. Stock traders bought 7,744 call options on the stock. This represents an increase of 202% compared to the average volume of 2,562 call options.

MicroAlgo Stock Up 64.8 %

NASDAQ:MLGO traded up $4.39 during mid-day trading on Monday, reaching $11.17. The company’s stock had a trading volume of 31,520,227 shares, compared to its average volume of 7,302,924. MicroAlgo has a 1 year low of $1.11 and a 1 year high of $509.60. The stock has a fifty day moving average of $8.78 and a 200-day moving average of $5.27.

Institutional Investors Weigh In On MicroAlgo

Several hedge funds have recently modified their holdings of MLGO. Virtu Financial LLC purchased a new stake in MicroAlgo during the fourth quarter worth $93,000. Jane Street Group LLC increased its holdings in shares of MicroAlgo by 117.3% in the 4th quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock valued at $96,000 after acquiring an additional 13,765 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of MicroAlgo in the 4th quarter worth $319,000. 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.