Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Rises By 127.7%

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. Based on an average daily trading volume, of 23,330,000 shares, the short-interest ratio is currently 0.2 days. Approximately 2,105.5% of the company’s shares are sold short.

MicroAlgo Stock Up 1.3 %

Shares of MLGO opened at $12.11 on Wednesday. The stock’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $5.24. MicroAlgo has a 12-month low of $1.11 and a 12-month high of $509.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of MicroAlgo during the fourth quarter worth approximately $93,000. Jane Street Group LLC raised its position in shares of 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 acquiring an additional 13,765 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of MicroAlgo in the 4th quarter valued at $319,000. 1.10% of the stock is currently owned by institutional investors and hedge funds.

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.