MicroAlgo (NASDAQ:MLGO) Issues Earnings Results

MicroAlgo (NASDAQ:MLGO) issued its quarterly earnings results on Wednesday. The company reported $0.51 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $17.03 million for the quarter.

MicroAlgo Price Performance

MicroAlgo stock traded up $1.18 during trading hours on Wednesday, reaching $4.66. The stock had a trading volume of 405,458 shares, compared to its average volume of 143,366. The company has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $6.50. MicroAlgo has a 52 week low of $3.02 and a 52 week high of $702.00. The stock has a market cap of $3.59 million, a PE ratio of -0.01 and a beta of -1.37.

Institutional Trading of MicroAlgo

A number of institutional investors have recently modified their holdings of MLGO. Marex Group plc bought a new stake in shares of MicroAlgo in the second quarter worth about $285,000. Murchinson Ltd. bought a new position in MicroAlgo during the 2nd quarter valued at approximately $153,000. Jane Street Group LLC lifted its holdings in MicroAlgo by 42.0% in the 1st quarter. Jane Street Group LLC now owns 36,200 shares of the company’s stock worth $878,000 after buying an additional 10,705 shares during the period. Bank of America Corp DE lifted its holdings in MicroAlgo by 1,021.8% in the 3rd quarter. Bank of America Corp DE now owns 32,228 shares of the company’s stock worth $295,000 after buying an additional 29,355 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of MicroAlgo in the 3rd quarter worth approximately $190,000. 1.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLGO has been the subject of several analyst reports. Wall Street Zen upgraded MicroAlgo from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MicroAlgo in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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