Newegg Commerce (NASDAQ:NEGG) Sees Strong Trading Volume - What's Next?

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 - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 586,565 shares traded hands 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 Trading Down 13.1%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76. The business has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $10.95.

Insider Buying and Selling

In other news, major shareholder Vladimir Galkin bought 416,799 shares of the company's stock in a transaction dated Thursday, July 17th. The stock was bought at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the transaction, the insider directly owned 3,194,576 shares in the company, valued at $94,815,015.68. The trade was a 15.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 1,122,119 shares of company stock valued at $36,361,527 over the last quarter. 22.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Newegg Commerce during the second quarter worth $64,000. Renaissance Technologies LLC raised its position 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 acquiring an additional 34,900 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Newegg Commerce during the fourth quarter worth $44,000. Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce during the fourth quarter worth $69,000. Finally, XTX Topco Ltd bought a new stake in Newegg Commerce in the first quarter valued at about $55,000. Institutional investors 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.