Newegg Commerce (NASDAQ:NEGG) Sees Strong Trading Volume Following Insider Buying Activity

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw an uptick in trading volume on Tuesday following insider buying activity. 409,231 shares changed hands during trading, an increase of 90% from the previous session's volume of 215,084 shares.The stock last traded at $30.58 and had previously closed at $26.34.

Specifically, major shareholder Vladimir Galkin acquired 416,799 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were purchased at an average cost of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the purchase, the insider owned 3,194,576 shares in the company, valued at approximately $94,815,015.68. This trade represents a 15.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Vladimir Galkin bought 111,111 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were purchased at an average cost of $29.41 per share, with a total value of $3,267,774.51. Following the transaction, the insider directly owned 2,777,777 shares of the company's stock, valued at $81,694,421.57. The trade was a 4.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Vladimir Galkin bought 111,111 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was bought at an average price of $29.56 per share, with a total value of $3,284,441.16. Following the completion of the transaction, the insider directly owned 2,555,555 shares of the company's stock, valued at approximately $75,542,205.80. The trade was a 4.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Newegg Commerce Price Performance

The stock's 50-day moving average is $15.33 and its 200 day moving average is $9.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Newegg Commerce during the first quarter worth $55,000. Squarepoint Ops LLC purchased a new position in shares of Newegg Commerce during the fourth quarter worth $69,000. Jane Street Group LLC purchased a new position in shares of Newegg Commerce during the fourth quarter worth $44,000. Finally, Renaissance Technologies LLC raised its holdings 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 purchasing an additional 34,900 shares during the last quarter. Hedge funds and other 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.