MicroAlgo Inc. (NASDAQ:MLGO) Sees Significant Growth in Short Interest

MicroAlgo Inc. (NASDAQ:MLGO) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,210,000 shares, a growth of 456.3% from the December 31st total of 217,500 shares. Based on an average trading volume of 2,460,000 shares, the short-interest ratio is presently 0.5 days.

MicroAlgo Stock Up 6.0 %

MLGO traded up $0.11 on Tuesday, hitting $1.94. The company’s stock had a trading volume of 5,458,635 shares, compared to its average volume of 7,056,713. MicroAlgo has a 12 month low of $1.44 and a 12 month high of $509.60. The company’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $9.20.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MicroAlgo stock. Platform Technology Partners bought a new position in MicroAlgo Inc. (NASDAQ:MLGO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned approximately 1.94% of MicroAlgo as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.10% of the company’s stock.

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.