Wall Street Zen Upgrades MicroAlgo (NASDAQ:MLGO) to Hold

MicroAlgo (NASDAQ:MLGO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of MicroAlgo in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

MicroAlgo Stock Up 3.8%

Shares of MicroAlgo stock opened at $8.75 on Friday. MicroAlgo has a 52 week low of $7.82 and a 52 week high of $972.00. The firm’s 50 day moving average is $9.65 and its two-hundred day moving average is $27.80. The firm has a market capitalization of $6.74 million, a P/E ratio of -0.01 and a beta of -1.53.

Institutional Trading of MicroAlgo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sassicaia Capital Advisers LLC purchased a new position in shares of MicroAlgo in the 1st quarter valued at approximately $233,000. GSA Capital Partners LLP purchased a new stake in shares of MicroAlgo during the third quarter worth approximately $190,000. Anson Funds Management LP acquired a new stake in shares of MicroAlgo during the first quarter worth $728,000. Jane Street Group LLC grew its position in MicroAlgo by 42.0% in the 1st quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock valued at $878,000 after buying an additional 10,705 shares during the last quarter. Finally, Murchinson Ltd. acquired a new position in MicroAlgo in the 2nd quarter valued at $153,000. 1.10% of the stock is owned by hedge funds and other institutional investors.

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.