MicroAlgo Inc. (NASDAQ:MLGO) Short Interest Up 28.6% in November

MicroAlgo Inc. (NASDAQ:MLGO) saw a significant growth in short interest during 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 trading volume, of 32,150,000 shares, the short-interest ratio is presently 0.2 days.

MicroAlgo Price Performance

Shares of NASDAQ MLGO opened at $2.35 on Monday. The business’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $2.08. MicroAlgo has a 52 week low of $2.35 and a 52 week high of $509.60.

Hedge Funds Weigh In On 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 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned 1.94% of MicroAlgo at the end of the most recent quarter. 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.