MicroAlgo (NASDAQ:MLGO) Shares Down 2.8% – Time to Sell?

MicroAlgo Inc. (NASDAQ:MLGO) shares fell 2.8% during mid-day trading on Wednesday . The stock traded as low as $0.20 and last traded at $0.20. 9,404,200 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 13,269,783 shares. The stock had previously closed at $0.21.

MicroAlgo Price Performance

The firm’s 50 day simple moving average is $0.29 and its 200-day simple moving average is $2.48.

Hedge Funds Weigh In On MicroAlgo

An institutional investor recently bought a new position in MicroAlgo stock. Platform Technology Partners bought a new position in shares of MicroAlgo Inc. (NASDAQ:MLGO) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $25,000. Platform Technology Partners owned approximately 1.94% of MicroAlgo as of its most recent filing with the SEC. Institutional investors own 1.10% of the company’s stock.

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.