Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Drops By 50.3%

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,840,000 shares, a decrease of 50.3% from the February 28th total of 3,700,000 shares. Based on an average daily trading volume, of 20,490,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 924.6% of the shares of the stock are short sold.

MicroAlgo Price Performance

NASDAQ:MLGO traded up $1.41 during trading hours on Friday, reaching $17.35. 42,600,199 shares of the company traded hands, compared to its average volume of 6,617,275. MicroAlgo has a 1-year low of $1.11 and a 1-year high of $509.60. The firm’s 50-day moving average is $3.85 and its 200-day moving average is $3.95.

Institutional Trading of MicroAlgo

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in MicroAlgo by 117.3% in the 4th quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock valued at $96,000 after purchasing an additional 13,765 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of MicroAlgo during the fourth quarter worth about $319,000. Finally, Virtu Financial LLC acquired a new position in shares of MicroAlgo in the fourth quarter valued at approximately $93,000. 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.