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

Key Points

• Newegg Commerce (NASDAQ:NEGG) experienced a significant increase in trading volume, with 1,895,689 shares traded on Friday, marking a 144% rise compared to the previous day.
• The company has been rated with a "sell (e+)" by Weiss Ratings, highlighting concerns among analysts, with one maintaining a negative outlook on the stock.
• Major shareholder Vladimir Galkin increased his holdings by acquiring 11,111 shares at an average price of $104.72 per share, bringing his total ownership to approximately $367.7 million.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw strong trading volume on Friday . 1,895,689 shares were traded during mid-day trading, an increase of 144% from the previous session's volume of 776,240 shares.The stock last traded at $65.17 and had previously closed at $47.37.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Newegg Commerce in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

Newegg Commerce Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52. The company has a fifty day simple moving average of $53.42 and a two-hundred day simple moving average of $31.23.

Insider Buying and Selling at Newegg Commerce

In other Newegg Commerce news, major shareholder Vladimir Galkin acquired 11,111 shares of Newegg Commerce stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average price of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the purchase, the insider directly owned 3,511,111 shares of the company's stock, valued at approximately $367,683,543.92. This represents a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Newegg Commerce

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after buying an additional 10,675 shares in the last quarter. Marshall Wace LLP bought a new position in Newegg Commerce in the second quarter worth approximately $4,281,000. FNY Investment Advisers LLC bought a new position in Newegg Commerce in the second quarter worth approximately $64,000. Finally, XTX Topco Ltd bought a new position in Newegg Commerce in the first quarter worth approximately $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.

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