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

Newegg Commerce logo with Retail/Wholesale background

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 406,288 shares changed hands during mid-day 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 32.3%

The stock has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $8.04. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently modified their holdings of NEGG. XTX Topco Ltd bought a new position in shares of Newegg Commerce during the 1st quarter worth approximately $55,000. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth approximately $69,000. Jane Street Group LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth approximately $44,000. Finally, Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 34,900 shares during the period. 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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