MicroAlgo (NASDAQ:MLGO) Posts Earnings Results

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

MicroAlgo Stock Performance

NASDAQ MLGO opened at $4.00 on Thursday. The business has a fifty day moving average price of $3.97 and a 200 day moving average price of $6.48. The company has a market cap of $3.08 million, a P/E ratio of -0.01 and a beta of -1.25. MicroAlgo has a one year low of $3.02 and a one year high of $702.00.

Analysts Set New Price Targets

Several equities analysts have issued reports on MLGO shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MicroAlgo in a report on Thursday, January 22nd. Wall Street Zen raised shares of MicroAlgo from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On MicroAlgo

A number of large investors have recently modified their holdings of MLGO. Marex Group plc purchased a new position in shares of MicroAlgo in the second quarter worth about $285,000. Murchinson Ltd. purchased a new stake in MicroAlgo during the 2nd quarter valued at about $153,000. Bank of America Corp DE raised 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 valued at $295,000 after acquiring an additional 29,355 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in MicroAlgo in the 3rd quarter valued at about $190,000. Finally, HRT Financial LP purchased a new position in MicroAlgo in the 4th quarter worth approximately $66,000. Hedge funds and other 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. It offers services that includes algorithm optimization, accelerating computing power without the need for hardware upgrades, data processing, and data intelligence services.