MicroAlgo Inc. (NASDAQ:MLGO) Sees Significant Growth in Short Interest

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,190,000 shares, an increase of 127.7% from the March 15th total of 1,840,000 shares. Based on an average daily trading volume, of 23,330,000 shares, the short-interest ratio is presently 0.2 days. Approximately 2,105.5% of the shares of the company are short sold.

MicroAlgo Price Performance

MicroAlgo stock opened at $6.78 on Friday. MicroAlgo has a fifty-two week low of $1.11 and a fifty-two week high of $509.60. The firm has a fifty day moving average price of $8.67 and a two-hundred day moving average price of $5.27.

Institutional Trading of MicroAlgo

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of MicroAlgo in the fourth quarter valued at approximately $93,000. Jane Street Group LLC raised its stake in MicroAlgo by 117.3% during the 4th quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock valued at $96,000 after purchasing an additional 13,765 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in MicroAlgo in the 4th quarter valued at $319,000. 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.