Newegg Commerce (NASDAQ:NEGG) Shares Down 10.8% - Should You Sell?

Key Points

• Newegg Commerce's stock has fallen by 10.8%, trading at $34.88 after a low of $33.52 during mid-day trading.
• Insider purchases include major shareholder Vladimir Galkin acquiring 11,111 shares at $104.72 each, resulting in an increased ownership stake.
• Recent activity from hedge funds shows a mix of new acquisitions and significant increases in stakes, notably a 10,675% increase by Bank of America Corp DE.

Newegg Commerce, Inc. (NASDAQ:NEGG - ) was down 10.8% during mid-day trading on Tuesday . The stock traded as low as $33.52 and last traded at $34.88. Approximately 413,994 shares changed hands during trading, a decline of 34% from the average daily volume of 623,765 shares. The stock had previously closed at $39.11.

Newegg Commerce Trading Down 8.1%

The company has a fifty day moving average of $52.08 and a 200 day moving average of $22.37. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling

In related news, major shareholder Vladimir Galkin purchased 11,111 shares of the company's stock in a transaction on Friday, August 15th. The shares were bought at an average price of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the acquisition, the insider 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 1,133,230 shares of company stock worth $37,525,071 over the last quarter. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors and hedge funds have recently modified their holdings of NEGG. Jane Street Group LLC bought a new stake in Newegg Commerce in the fourth quarter worth $44,000. XTX Topco Ltd acquired a new stake in shares of Newegg Commerce in the first quarter valued at approximately $55,000. FNY Investment Advisers LLC acquired a new stake in Newegg Commerce during the 2nd quarter worth $64,000. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the fourth quarter worth $69,000. Finally, Bank of America Corp DE lifted its position 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 valued at $175,000 after acquiring an additional 10,675 shares in the last quarter. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.