Short Interest in MicroAlgo Inc. (NASDAQ:MLGO) Expands By 28.6%

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 7,010,000 shares, a growth 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.

Institutional Trading of MicroAlgo

A hedge fund recently bought a new stake in MicroAlgo stock. Platform Technology Partners acquired a new position in shares of MicroAlgo Inc. (NASDAQ:MLGO) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned about 1.94% of MicroAlgo at the end of the most recent reporting period. 1.10% of the stock is owned by institutional investors.

MicroAlgo Trading Down 8.9 %

MLGO traded down $0.23 during trading on Friday, hitting $2.35. 8,996,567 shares of the stock were exchanged, compared to its average volume of 710,220. The firm has a 50 day simple moving average of $0.27 and a 200 day simple moving average of $2.07. MicroAlgo has a 1 year low of $2.35 and a 1 year 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.