Newegg Commerce (NASDAQ:NEGG) Sees Large Volume Increase - Here's Why

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%.

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) saw strong trading volume on Friday . 1,859,578 shares were traded during mid-day 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 Stock Up 10.7%

The company has a 50 day moving average price of $55.35 and a 200-day moving average price of $23.93. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Insiders Place Their Bets

In other news, major shareholder Vladimir Galkin bought 416,799 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was acquired at an average price of $29.68 per share, with a total value of $12,370,594.32. Following the completion of the purchase, the insider directly owned 3,194,576 shares of the company's stock, valued at $94,815,015.68. This represents a 15.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,133,230 shares of company stock worth $37,525,071 over the last ninety days. Company insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Newegg Commerce

Several hedge funds have recently modified their holdings of NEGG. Bank of America Corp DE lifted its stake in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after acquiring an additional 10,675 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce during the 2nd quarter worth about $4,281,000. FNY Investment Advisers LLC acquired a new position in shares of Newegg Commerce during the 2nd quarter valued at about $64,000. XTX Topco Ltd acquired a new position in shares of Newegg Commerce during the 1st quarter valued at about $55,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce during the 4th quarter valued at about $69,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

Newegg Commerce Company Profile

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.