Newegg Commerce (NASDAQ:NEGG) Hits New 12-Month High - Still a Buy?

Key Points

• Newegg Commerce (NASDAQ:NEGG) achieved a new 52-week high, trading as high as $56.00, up significantly from a previous close of $39.08, marking a trading increase of 43.8%.
• Major shareholder Vladimir Galkin increased his stake by purchasing 416,799 shares for over $12 million, raising his total ownership to approximately $94.8 million.
• A notable increase in interest from institutional investors has been observed, with hedge fund Renaissance Technologies boosting its position in Newegg by 69.1%.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.00 and last traded at $54.90, with a volume of 2022567 shares. The stock had previously closed at $39.08.

Newegg Commerce Stock Performance

The firm's fifty day moving average is $20.46 and its 200-day moving average is $11.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76.

Insider Buying and Selling at Newegg Commerce

In other news, major shareholder Vladimir Galkin bought 416,799 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was bought at an average cost of $29.68 per share, for a total transaction of $12,370,594.32. Following the acquisition, the insider directly owned 3,194,576 shares of the company's stock, valued at $94,815,015.68. The trade was a 15.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 1,122,119 shares of company stock worth $36,361,527. Company insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in Newegg Commerce by 69.1% during the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock worth $34,000 after purchasing an additional 34,900 shares in the last quarter. Jane Street Group LLC purchased a new position in Newegg Commerce in the fourth quarter worth approximately $44,000. XTX Topco Ltd acquired a new position in Newegg Commerce during the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Newegg Commerce in the 2nd quarter valued at $64,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce during the 4th quarter worth $69,000. Institutional investors and hedge funds own 0.45% of the company's stock.

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.