Newegg Commerce (NASDAQ:NEGG) Sees Strong Trading Volume - Time to Buy?

Key Points

• Newegg Commerce experienced a substantial increase in trading volume by 184%, reaching approximately 1.86 million shares on Friday, with the stock price rising to $44.61 from a previous close of $37.77.
• Insider transactions are notable, with major shareholder Vladimir Galkin purchasing over 11,000 shares at an average price of $104.72, raising insider ownership to 22.90% of the company.
• Several institutional investors have recently acquired stakes in Newegg, indicating growing interest; however, overall institutional ownership remains relatively low at 0.45%.

Newegg Commerce, Inc. (NASDAQ:NEGG - ) saw unusually-strong trading volume on Friday . Approximately 1,859,578 shares were traded during trading, an increase of 184% from the previous session's volume of 654,149 shares.The stock last traded at $44.61 and had previously closed at $37.77.

Newegg Commerce Trading Up 17.2%

The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $53.28 and a 200-day simple moving average of $22.83.

Insider Transactions at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 11,111 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $104.72 per share, with a total value of $1,163,543.92. Following the purchase, the insider owned 3,511,111 shares of the company's stock, valued at $367,683,543.92. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 1,133,230 shares of company stock valued at $37,525,071. 22.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently added to or reduced their stakes in NEGG. Jane Street Group LLC acquired a new stake in Newegg Commerce in the 4th quarter valued at $44,000. Squarepoint Ops LLC acquired a new stake in Newegg Commerce in the 4th quarter valued at $69,000. XTX Topco Ltd acquired a new stake in Newegg Commerce in the 1st quarter valued at $55,000. FNY Investment Advisers LLC purchased a new stake in Newegg Commerce during the 2nd quarter worth approximately $64,000. Finally, Marshall Wace LLP purchased a new stake in Newegg Commerce during the 2nd quarter worth approximately $4,281,000. 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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