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

Key Points

• Newegg Commerce, Inc. saw a significant increase in trading volume, with approximately 586,565 shares traded on Monday, a 56% rise from the previous session.
• Major shareholder Vladimir Galkin acquired 416,799 shares at an average price of $29.68 per share, increasing his ownership stake by 15% and valuing the total transaction at $12.37 million.
• Institutional ownership in Newegg Commerce is currently at 0.45%, with several hedge funds initiating positions or increasing their stakes in the stock recently.

Newegg Commerce, Inc. (NASDAQ:NEGG - ) shares saw unusually-strong trading volume on Monday . Approximately 586,565 shares were traded during mid-day trading, an increase of 56% from the previous session's volume of 377,083 shares.The stock last traded at $40.94 and had previously closed at $34.31.

Newegg Commerce Stock Performance

The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50. The company's 50 day moving average price is $15.89 and its 200 day moving average price is $9.81.

Insider Transactions at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 416,799 shares of Newegg Commerce stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the transaction, the insider directly owned 3,194,576 shares in the company, valued at approximately $94,815,015.68. This represents a 15.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have bought 983,362 shares of company stock worth $30,487,943. 22.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

About Newegg Commerce

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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