Newegg Commerce (NASDAQ:NEGG) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Newegg Commerce's stock experienced a trading volume increase of 2% on Friday, with 488,471 shares traded, amidst a decline in stock price to $94.31 from a previous close of $128.09.
• Major shareholder Vladimir Galkin increased his stake by acquiring 138,757 shares at an average price of $42.33, representing a 4.34% rise in his ownership position.
• Institutional investors are actively modifying their holdings, with significant increases from firms like Bank of America Corp, which lifted its stake by an astonishing 10,675.0% during the second quarter.

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw unusually-high trading volume on Friday . Approximately 488,471 shares were traded during mid-day trading, an increase of 2% from the previous session's volume of 479,672 shares.The stock last traded at $94.31 and had previously closed at $128.09.

Newegg Commerce Price Performance

The stock's 50-day simple moving average is $38.02 and its two-hundred day simple moving average is $17.26. 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 related news, major shareholder Vladimir Galkin bought 416,799 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was purchased at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the transaction, the insider owned 3,194,576 shares in the company, valued at $94,815,015.68. The trade was a 15.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 1,133,230 shares of company stock worth $37,525,071 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of NEGG. Renaissance Technologies LLC boosted its position in shares of Newegg Commerce by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock worth $34,000 after acquiring an additional 34,900 shares during the last quarter. Jane Street Group LLC bought a new position in Newegg Commerce during the fourth quarter valued at $44,000. Squarepoint Ops LLC bought a new position in Newegg Commerce during the fourth quarter valued at $69,000. XTX Topco Ltd bought a new position in Newegg Commerce during the first quarter valued at $55,000. Finally, FNY Investment Advisers LLC bought a new position in Newegg Commerce during the second quarter valued at $64,000. Institutional investors 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.