MicroAlgo (NASDAQ:MLGO) Releases Earnings Results

MicroAlgo (NASDAQ:MLGO) issued its quarterly earnings results on Friday. The company reported ($1.39) EPS for the quarter, FiscalAI reports. The company had revenue of $10.06 million during the quarter.

MicroAlgo Trading Up 0.7%

Shares of NASDAQ MLGO opened at $4.14 on Friday. The stock has a fifty day simple moving average of $4.15 and a two-hundred day simple moving average of $4.16. MicroAlgo has a 1-year low of $3.02 and a 1-year high of $13.60. The firm has a market cap of $3.19 million, a price-to-earnings ratio of -0.01 and a beta of -0.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Aristides Capital LLC bought a new position in shares of MicroAlgo during the 4th quarter worth $45,000. HRT Financial LP purchased a new stake in MicroAlgo during the fourth quarter valued at about $66,000. Man Group plc purchased a new stake in MicroAlgo during the third quarter valued at about $102,000. Murchinson Ltd. bought a new position in MicroAlgo during the second quarter worth about $153,000. Finally, Bank of America Corp DE boosted its position in MicroAlgo by 1,021.8% during the third quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock worth $295,000 after purchasing an additional 29,355 shares during the period. Hedge funds and other institutional investors own 1.10% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of MicroAlgo from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

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. It offers services that includes algorithm optimization, accelerating computing power without the need for hardware upgrades, data processing, and data intelligence services.