Wall Street Zen Downgrades MicroAlgo (NASDAQ:MLGO) to Sell

MicroAlgo (NASDAQ:MLGO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

MicroAlgo Price Performance

MLGO opened at $9.76 on Friday. The business has a fifty day simple moving average of $9.64 and a 200 day simple moving average of $38.67. MicroAlgo has a 1 year low of $7.82 and a 1 year high of $972.00. The company has a market capitalization of $7.52 million, a PE ratio of -0.01 and a beta of -1.53.

Institutional Investors Weigh In On MicroAlgo

Large investors have recently bought and sold shares of the company. Sassicaia Capital Advisers LLC acquired a new position in shares of MicroAlgo in the 1st quarter valued at approximately $233,000. Anson Funds Management LP acquired a new position in MicroAlgo during the first quarter valued at approximately $728,000. Jane Street Group LLC raised its position in MicroAlgo by 42.0% during the first quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock valued at $878,000 after purchasing an additional 10,705 shares in the last quarter. Murchinson Ltd. bought a new stake in MicroAlgo during the second quarter worth $153,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MicroAlgo in the 1st quarter valued at $8,468,000. 1.10% of the stock is currently owned by institutional investors and hedge funds.

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.