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

MicroAlgo Inc. (NASDAQ:MLGO) was the recipient of a significant decline in short interest in the month of 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. Based on an average daily trading volume, of 20,490,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 924.6% of the shares of the company are short sold.

Hedge Funds Weigh In On MicroAlgo

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

MicroAlgo Stock Up 8.8 %

Shares of MLGO stock traded up $1.41 on Friday, hitting $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 two-hundred day moving average is $3.96. MicroAlgo has a one year low of $1.11 and a one 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.