Newegg Commerce, Inc. (NASDAQ:NEGG) Short Interest Down 30.5% in July

Key Points

• Short interest in Newegg Commerce, Inc. decreased by 30.5% in July, falling to 240,100 shares from 345,700 shares.
• Newegg Commerce's stock price saw a notable increase of 20.5%, trading at $107.6860 on a recent trading day.
• Insider Vladimir Galkin purchased 416,799 shares of Newegg stock, increasing his ownership stake by 15.00%.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 240,100 shares, adeclineof30.5% from the July 15th total of 345,700 shares. Approximately0.8% of the company's stock are short sold. Based on an average trading volume of 997,100 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 997,100 shares, the days-to-cover ratio is presently 0.2 days. Approximately0.8% of the company's stock are short sold.

Insider Buying and Selling

In related news, major shareholder Vladimir Galkin acquired 11,111 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the transaction, the insider owned 3,511,111 shares of the company's stock, valued at $367,683,543.92. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 1,133,230 shares of company stock valued at $37,525,071. Insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Newegg Commerce in the 2nd quarter valued at $64,000. Bank of America Corp DE increased its stake in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock valued at $175,000 after buying an additional 10,675 shares during the last quarter. Renaissance Technologies LLC increased its stake in Newegg Commerce by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock valued at $34,000 after buying an additional 34,900 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Newegg Commerce during the 4th quarter worth about $44,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce during the 4th quarter worth about $69,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

Newegg Commerce Trading Down 15.6%

NEGG stock traded down $15.75 during midday trading on Monday, hitting $85.00. The company's stock had a trading volume of 1,247,193 shares, compared to its average volume of 526,192. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Newegg Commerce has a twelve month low of $3.32 and a twelve month high of $137.84. The company's fifty day moving average price is $43.96 and its 200 day moving average price is $19.33.

Newegg Commerce Company Profile

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.