MicroAlgo (NASDAQ:MLGO) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of MicroAlgo (NASDAQ:MLGO) from a hold rating to a sell rating in a report released on Friday.

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

MicroAlgo Price Performance

Shares of MicroAlgo stock opened at $6.78 on Friday. The stock’s 50 day simple moving average is $8.98 and its 200-day simple moving average is $16.20. The stock has a market cap of $5.22 million, a P/E ratio of -0.01 and a beta of -1.48. MicroAlgo has a 1-year low of $5.99 and a 1-year high of $972.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in MicroAlgo in the first quarter valued at $8,468,000. Anson Funds Management LP purchased a new position in shares of MicroAlgo during the 1st quarter worth $728,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of MicroAlgo during the 1st quarter worth about $233,000. Man Group plc purchased a new stake in MicroAlgo in the 3rd quarter valued at about $102,000. Finally, Murchinson Ltd. purchased a new stake in MicroAlgo in the 2nd quarter valued at about $153,000. 1.10% of the stock is currently owned by hedge funds and other institutional investors.

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.