MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Down 57.8% in January

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 510,900 shares, a decline of 57.8% from the December 31st total of 1,210,000 shares. Based on an average daily trading volume, of 3,410,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On MicroAlgo

An institutional investor recently bought a new position in MicroAlgo stock. Platform Technology Partners acquired a new stake in MicroAlgo Inc. (NASDAQ:MLGO) in the third quarter, according to the company in its most recent disclosure with the 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 as of its most recent filing with the SEC. 1.10% of the stock is currently owned by institutional investors.

MicroAlgo Price Performance

MLGO stock traded down $0.14 during midday trading on Thursday, reaching $1.61. The company had a trading volume of 1,807,562 shares, compared to its average volume of 6,559,429. MicroAlgo has a 1 year low of $1.44 and a 1 year high of $509.60. The firm has a 50-day moving average price of $2.62 and a 200-day moving average price of $9.15.

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.