Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Increases By 21.9%

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 513,219 shares, an increase of 21.9% from the January 29th total of 420,913 shares. Currently, 86.3% of the company’s stock are short sold. Based on an average daily volume of 152,114 shares, the short-interest ratio is currently 3.4 days. Based on an average daily volume of 152,114 shares, the short-interest ratio is currently 3.4 days. Currently, 86.3% of the company’s stock are short sold.

Hedge Funds Weigh In On MicroAlgo

A number of large investors have recently added to or reduced their stakes in the company. Aristides Capital LLC purchased a new stake in shares of MicroAlgo during the fourth quarter valued at about $45,000. HRT Financial LP purchased a new position in shares of MicroAlgo in the 4th quarter worth approximately $66,000. Man Group plc bought a new position in shares of MicroAlgo during the 3rd quarter worth approximately $102,000. Murchinson Ltd. bought a new position in shares of MicroAlgo during the 2nd quarter worth approximately $153,000. Finally, GSA Capital Partners LLP purchased a new stake in MicroAlgo during the third quarter valued at approximately $190,000. 1.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of MicroAlgo in a research report on Thursday, January 22nd. Wall Street Zen raised shares of MicroAlgo from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, MicroAlgo currently has an average rating of “Sell”.

MicroAlgo Price Performance

NASDAQ MLGO traded up $0.03 during midday trading on Wednesday, hitting $3.50. 88,666 shares of the company traded hands, compared to its average volume of 126,922. MicroAlgo has a 52 week low of $3.30 and a 52 week high of $972.00. The company’s 50-day simple moving average is $4.63 and its 200-day simple moving average is $7.17. The company has a market cap of $2.70 million, a PE ratio of 0.00 and a beta of -1.38.

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. It offers services that includes algorithm optimization, accelerating computing power without the need for hardware upgrades, data processing, and data intelligence services.