MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Down 57.8% in January

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 510,900 shares, a decline of 57.8% from the December 31st total of 1,210,000 shares. Based on an average trading volume of 3,410,000 shares, the days-to-cover ratio is currently 0.1 days.

MicroAlgo Stock Down 7.8 %

MLGO traded down $0.14 during midday trading on Thursday, reaching $1.61. The company had a trading volume of 1,807,562 shares, compared to its average volume of 6,559,429. MicroAlgo has a 12-month low of $1.44 and a 12-month high of $509.60. The business has a 50-day moving average price of $2.62 and a two-hundred day moving average price of $9.15.

Institutional Trading of MicroAlgo

An institutional investor recently bought a new position in MicroAlgo stock. Platform Technology Partners bought a new position in shares of MicroAlgo Inc. (NASDAQ:MLGO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned 1.94% of MicroAlgo at the end of the most recent quarter. Hedge funds and other institutional investors 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.