MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Up 28.6% in November

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 7,010,000 shares, an increase of 28.6% from the November 15th total of 5,450,000 shares. Based on an average daily volume of 32,150,000 shares, the short-interest ratio is currently 0.2 days.

MicroAlgo Price Performance

NASDAQ MLGO traded down $0.23 during trading on Friday, hitting $2.35. The company’s stock had a trading volume of 8,996,567 shares, compared to its average volume of 710,220. MicroAlgo has a fifty-two week low of $2.35 and a fifty-two week high of $509.60. The business’s 50 day simple moving average is $0.27 and its 200-day simple moving average is $2.07.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MicroAlgo stock. Platform Technology Partners bought a new stake in MicroAlgo Inc. (NASDAQ:MLGO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned about 1.94% of MicroAlgo as of its most recent SEC filing. 1.10% of the stock is owned by institutional investors.

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.