Newegg Commerce, Inc. (NASDAQ:NEGG) Sees Large Increase in Short Interest

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 151,600 shares, a growth of 99.0% from the April 30th total of 76,200 shares. Based on an average trading volume of 108,200 shares, the short-interest ratio is presently 1.4 days. Approximately 5.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors have recently modified their holdings of NEGG. XTX Topco Ltd bought a new position in Newegg Commerce during the first quarter valued at approximately $55,000. Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce in the 4th quarter worth approximately $69,000. Jane Street Group LLC purchased a new stake in shares of Newegg Commerce in the 4th quarter valued at $44,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Newegg Commerce by 69.1% during the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock valued at $34,000 after purchasing an additional 34,900 shares during the last quarter. 0.45% of the stock is currently owned by institutional investors.

Newegg Commerce Trading Up 16.3%

NASDAQ NEGG traded up $0.87 during trading hours on Tuesday, reaching $6.21. 258,464 shares of the stock traded hands, compared to its average volume of 62,249. The company has a current ratio of 1.21, a quick ratio of 0.54 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $7.58. Newegg Commerce has a 1 year low of $3.32 and a 1 year high of $26.40.

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.