MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Down 50.3% in March

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

Institutional Investors Weigh In On MicroAlgo

Several hedge funds and other institutional investors have recently modified their holdings of MLGO. Balyasny Asset Management L.P. bought a new stake in MicroAlgo during the 4th quarter valued at $319,000. Jane Street Group LLC boosted its position in MicroAlgo by 117.3% in the fourth quarter. Jane Street Group LLC now owns 25,495 shares of the company’s stock worth $96,000 after purchasing an additional 13,765 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in MicroAlgo in the 4th quarter valued at $93,000. Institutional investors own 1.10% of the company’s stock.

MicroAlgo Stock Up 8.8 %

MLGO stock traded up $1.41 during trading on Friday, reaching $17.35. 42,600,199 shares of the stock were exchanged, compared to its average volume of 6,617,275. The firm’s 50 day moving average is $3.85 and its 200 day moving average is $3.96. MicroAlgo has a twelve month low of $1.11 and a twelve month high of $509.60.

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.