Newegg Commerce (NASDAQ:NEGG) Receives Sell (E+) Rating from Weiss Ratings

Newegg Commerce (NASDAQ:NEGG - Get Free Report)'s stock had its "sell (e+)" rating reiterated by investment analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Newegg Commerce Trading Up 40.8%

NASDAQ:NEGG opened at $66.72 on Friday. The business has a 50 day moving average of $52.73 and a 200 day moving average of $31.85. Newegg Commerce has a 1-year low of $3.32 and a 1-year high of $137.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Insiders Place Their Bets

In other news, major shareholder Vladimir Galkin purchased 11,111 shares of Newegg Commerce stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the purchase, the insider directly owned 3,511,111 shares in the company, valued at approximately $367,683,543.92. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.90% of the stock is currently owned by insiders.

Institutional Trading of Newegg Commerce

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted 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 last quarter. Marshall Wace LLP purchased a new position in Newegg Commerce in the second quarter worth about $4,281,000. FNY Investment Advisers LLC purchased a new position in Newegg Commerce in the second quarter worth about $64,000. Finally, XTX Topco Ltd bought a new position in shares of Newegg Commerce in the first quarter worth about $55,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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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