MicroAlgo (NASDAQ:MLGO) Shares Up 6.9% – What’s Next?

Shares of MicroAlgo Inc. (NASDAQ:MLGO) traded up 6.9% during trading on Thursday . The stock traded as high as $10.40 and last traded at $10.38. 228,168 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 711,630 shares. The stock had previously closed at $9.71.

MicroAlgo Price Performance

The firm’s 50-day simple moving average is $9.53 and its 200 day simple moving average is $107.41.

Institutional Trading of MicroAlgo

Several hedge funds have recently added to or reduced their stakes in MLGO. Sassicaia Capital Advisers LLC bought a new stake in shares of MicroAlgo in the first quarter valued at approximately $233,000. Jane Street Group LLC raised its position in shares of MicroAlgo by 42.0% in the first quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock valued at $878,000 after purchasing an additional 10,705 shares during the period. Anson Funds Management LP bought a new stake in shares of MicroAlgo in the first quarter valued at approximately $728,000. Murchinson Ltd. bought a new stake in shares of MicroAlgo in the second quarter valued at approximately $153,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of MicroAlgo in the first quarter valued at approximately $8,468,000. 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.