Newegg Commerce (NASDAQ:NEGG) Shares Gap Down - Here's Why

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $49.24, but opened at $47.52. Newegg Commerce shares last traded at $34.29, with a volume of 584,459 shares traded.

Newegg Commerce Price Performance

The business has a 50-day moving average of $12.38 and a 200 day moving average of $8.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.16.

Insider Buying and Selling

In related news, major shareholder Vladimir Galkin acquired 111,111 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was purchased at an average price of $29.56 per share, for a total transaction of $3,284,441.16. Following the transaction, the insider owned 2,555,555 shares in the company, valued at $75,542,205.80. This trade represents a 4.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 455,452 shares of company stock worth $14,849,575. Company insiders own 22.90% of the company's stock.

Institutional Trading of Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEGG. Renaissance Technologies LLC increased its position in Newegg Commerce by 69.1% during the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock worth $34,000 after purchasing an additional 34,900 shares in the last quarter. Jane Street Group LLC purchased a new stake in Newegg Commerce during the 4th quarter worth about $44,000. XTX Topco Ltd purchased a new stake in Newegg Commerce in the 1st quarter valued at about $55,000. Finally, Squarepoint Ops LLC purchased a new stake in Newegg Commerce in the 4th quarter valued at about $69,000. Hedge funds and other 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.