MicroAlgo (NASDAQ:MLGO) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of MicroAlgo (NASDAQ:MLGO) from a hold rating to a sell rating in a research note published on Saturday morning.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of MicroAlgo in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, MicroAlgo currently has a consensus rating of “Sell”.

MicroAlgo Price Performance

MLGO opened at $9.76 on Friday. The business has a 50 day moving average price of $9.64 and a two-hundred day moving average price of $40.15. The company has a market capitalization of $7.52 million, a price-to-earnings ratio of -0.01 and a beta of -1.52. MicroAlgo has a 1-year low of $7.82 and a 1-year high of $972.00.

Institutional Investors Weigh In On MicroAlgo

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of MicroAlgo during the 1st quarter worth $8,468,000. Anson Funds Management LP purchased a new stake in shares of MicroAlgo during the first quarter valued at $728,000. Sassicaia Capital Advisers LLC acquired a new position in shares of MicroAlgo in the 1st quarter valued at $233,000. Jane Street Group LLC boosted its position in shares of MicroAlgo by 42.0% in the 1st 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. Finally, Murchinson Ltd. purchased a new position in MicroAlgo in the 2nd quarter worth about $153,000. Institutional investors and hedge funds 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.