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 - ) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 240,100 shares, adropof30.5% from the July 15th total of 345,700 shares. Currently,0.8% of the shares of the stock are sold short. Based on an average trading volume of 997,100 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 997,100 shares, the days-to-cover ratio is currently 0.2 days. Currently,0.8% of the shares of the stock are sold short.

Newegg Commerce Stock Up 20.5%

Shares of Newegg Commerce stock traded up $18.2860 during trading on Wednesday, reaching $107.6860. The company's stock had a trading volume of 619,583 shares, compared to its average volume of 497,523. The stock has a 50-day moving average price of $38.02 and a two-hundred day moving average price of $17.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.16. Newegg Commerce has a one year low of $3.32 and a one year high of $133.00.

Insider Activity

In other Newegg Commerce news, major shareholder Vladimir Galkin purchased 416,799 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was acquired at an average cost of $29.68 per share, with a total value of $12,370,594.32. Following the completion of the acquisition, the insider directly owned 3,194,576 shares of the company's stock, valued at $94,815,015.68. This represents a 15.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 1,133,230 shares of company stock worth $37,525,071 over the last three months. 22.90% of the stock is currently owned by company insiders.

Institutional Trading of Newegg Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in Newegg Commerce in the fourth quarter worth about $69,000. XTX Topco Ltd acquired a new stake in Newegg Commerce in the first quarter worth about $55,000. Bank of America Corp DE increased its position in Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after purchasing an additional 10,675 shares during the period. Marshall Wace LLP acquired a new stake in Newegg Commerce in the second quarter worth about $4,281,000. Finally, FNY Investment Advisers LLC acquired a new stake in Newegg Commerce in the second quarter worth about $64,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

About Newegg Commerce

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.

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