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

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,840,000 shares, a drop of 50.3% from the February 28th total of 3,700,000 shares. Approximately 924.6% of the company’s shares are sold short. Based on an average trading volume of 20,490,000 shares, the short-interest ratio is currently 0.1 days.

MicroAlgo Price Performance

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

Institutional Inflows and Outflows

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

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.