MicroAlgo Sees Unusually High Options Volume (NASDAQ:MLGO)

MicroAlgo Inc. (NASDAQ:MLGO) saw some unusual options trading activity on Friday. Traders bought 12,380 call options on the company. This is an increase of approximately 120% compared to the typical daily volume of 5,630 call options.

MicroAlgo Stock Down 14.7%

NASDAQ MLGO opened at $1.85 on Friday. The firm’s 50-day moving average is $9.25 and its two-hundred day moving average is $5.07. MicroAlgo has a 12 month low of $1.11 and a 12 month high of $509.60.

Institutional Trading of MicroAlgo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in MicroAlgo during the first quarter worth about $8,468,000. Balyasny Asset Management L.P. purchased a new stake in MicroAlgo during the fourth quarter worth about $319,000. Jane Street Group LLC increased its stake in MicroAlgo by 42.0% during the first quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock worth $878,000 after purchasing an additional 10,705 shares during the period. Anson Funds Management LP purchased a new stake in MicroAlgo during the first quarter worth about $728,000. Finally, Virtu Financial LLC purchased a new stake in MicroAlgo during the fourth quarter worth about $93,000. 1.10% of the stock is currently owned by hedge funds and other institutional investors.

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.