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

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares saw unusually-strong trading volume on Tuesday following insider buying activity. Approximately 409,231 shares traded 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 bought 416,799 shares of the stock in a transaction dated Thursday, July 17th. The shares were acquired at an average price of $29.68 per share, with a total value of $12,370,594.32. Following the completion of the acquisition, the insider directly owned 3,194,576 shares in the company, valued at approximately $94,815,015.68. The trade was a 15.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vladimir Galkin bought 111,111 shares of the stock in a transaction dated Thursday, July 17th. The stock was purchased at an average cost of $29.41 per share, for a total transaction of $3,267,774.51. Following the acquisition, the insider owned 2,777,777 shares of the company's stock, valued at approximately $81,694,421.57. This represents 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 stock in a transaction dated Tuesday, July 15th. The shares were acquired at an average price of $29.56 per share, with a total value of $3,284,441.16. Following the completion of the acquisition, the insider directly owned 2,555,555 shares in the company, valued at approximately $75,542,205.80. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Newegg Commerce Trading Down 4.5%

The company's fifty day moving average price is $14.87 and its two-hundred day moving average price is $9.50. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Institutional Trading of Newegg Commerce

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in Newegg Commerce by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock valued at $34,000 after buying an additional 34,900 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Newegg Commerce in the fourth quarter valued at approximately $44,000. XTX Topco Ltd acquired a new position in shares of Newegg Commerce in the first quarter valued at approximately $55,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce in the fourth quarter valued at approximately $69,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

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.