MicroAlgo (NASDAQ:MLGO) Downgraded to “Sell” Rating by Wall Street Zen

MicroAlgo (NASDAQ:MLGO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of MicroAlgo in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

MicroAlgo Stock Performance

MLGO stock opened at $6.78 on Friday. MicroAlgo has a one year low of $5.99 and a one year high of $972.00. The firm has a market cap of $5.22 million, a PE ratio of -0.01 and a beta of -1.53. The firm’s 50 day moving average price is $8.98 and its 200-day moving average price is $16.92.

Institutional Trading of MicroAlgo

Several institutional investors have recently added to or reduced their stakes in MLGO. Caitong International Asset Management Co. Ltd purchased a new stake in MicroAlgo in the first quarter valued at approximately $8,468,000. Anson Funds Management LP acquired a new stake in shares of MicroAlgo in the first quarter valued at $728,000. Sassicaia Capital Advisers LLC purchased a new stake in shares of MicroAlgo in the 1st quarter valued at $233,000. Jane Street Group LLC lifted its stake in MicroAlgo by 42.0% during the 1st quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock worth $878,000 after acquiring an additional 10,705 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in MicroAlgo during the 3rd quarter valued at about $190,000. 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.