MicroAlgo (NASDAQ:MLGO) Stock Price Down 0.9%

MicroAlgo Inc. (NASDAQ:MLGO – Get Rating) shares dropped 0.9% during mid-day trading on Wednesday . The stock traded as low as $2.14 and last traded at $2.16. Approximately 45,075 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,446,934 shares. The stock had previously closed at $2.18.

MicroAlgo Price Performance

The company has a 50-day moving average price of $2.07.

Institutional Investors Weigh In On MicroAlgo

Several institutional investors have recently modified their holdings of MLGO. XTX Topco Ltd acquired a new stake in MicroAlgo in the first quarter valued at $33,000. Jane Street Group LLC purchased a new position in MicroAlgo in the fourth quarter valued at approximately $25,000. Geode Capital Management LLC acquired a new stake in MicroAlgo during the fourth quarter worth approximately $48,000. Finally, HRT Financial LP purchased a new stake in shares of MicroAlgo during the 4th quarter worth approximately $31,000. 67.03% of the stock is owned by hedge funds and other institutional investors.

About MicroAlgo

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MicroAlgo Inc develops and delivers central processing algorithm solutions to customers in internet advertisement, gaming, and intelligent chip industries in the People's Republic of China and internationally. The company operates through two segments, Central Processing Algorithm Services, and Intelligent Chips and Services.