MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Up 127.7% in March

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

Hedge Funds Weigh In On MicroAlgo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLGO. Balyasny Asset Management L.P. bought a new position in shares of MicroAlgo during the 4th quarter valued at $319,000. Virtu Financial LLC bought a new position in MicroAlgo during the fourth quarter valued at about $93,000. Finally, Jane Street Group LLC lifted its position in shares of MicroAlgo by 117.3% in 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 last quarter. Institutional investors own 1.10% of the company’s stock.

MicroAlgo Stock Down 18.7 %

Shares of MLGO 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 stock’s 50-day moving average is $8.67 and its two-hundred day moving average is $5.27.

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.