Newegg Commerce (NASDAQ:NEGG) Stock Price 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.

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

Newegg Commerce Price Performance

The company's 50 day simple moving average is $53.83 and its 200 day simple moving average is $23.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52.

Insider Activity at Newegg Commerce

In other news, major shareholder Vladimir Galkin bought 416,799 shares of Newegg Commerce stock in a transaction that occurred on Thursday, July 17th. The shares were purchased at an average price of $29.68 per share, with a total value of $12,370,594.32. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 1,133,230 shares of company stock worth $37,525,071 over the last three months. Insiders own 22.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in Newegg Commerce during the second quarter worth approximately $4,281,000. XTX Topco Ltd acquired a new stake in shares of Newegg Commerce during the first quarter worth about $55,000. Squarepoint Ops LLC acquired a new position in Newegg Commerce in the 4th quarter valued at about $69,000. Jane Street Group LLC acquired a new stake in Newegg Commerce during the 4th quarter worth approximately $44,000. Finally, Bank of America Corp DE increased its holdings in shares of 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 valued at $175,000 after purchasing an additional 10,675 shares during the period. 0.45% of the stock is owned by institutional investors and hedge funds.

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.