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Newegg Commerce (NASDAQ:NEGG) Sees Strong Trading Volume - Here's What Happened

Newegg Commerce logo with Retail/Wholesale background

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw strong trading volume on Wednesday . 406,288 shares were traded during trading, an increase of 152% from the previous session's volume of 161,213 shares.The stock last traded at $21.75 and had previously closed at $18.71.

Newegg Commerce Stock Up 16.1%

The firm has a fifty day moving average price of $8.97 and a 200 day moving average price of $7.81. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEGG. Renaissance Technologies LLC grew its position 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 during the period. Jane Street Group LLC acquired a new stake in Newegg Commerce during the 4th quarter worth about $44,000. XTX Topco Ltd acquired a new stake in Newegg Commerce during the 1st quarter worth about $55,000. Finally, Squarepoint Ops LLC acquired a new stake in Newegg Commerce during the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 0.45% of the company's stock.

Newegg Commerce Company Profile

(Get Free Report)

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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