Newegg Commerce (NASDAQ:NEGG) Shares Gap Down - Time to Sell?

Key Points

• Newegg Commerce's stock price gapped down from a previous close of $56.19 to open at $46.91, and it last traded at $44.47.
• Insider Vladimir Galkin increased his stake by purchasing 138,757 shares at an average of $42.33 each, bringing his total ownership to approximately $141 million.
• Institutional investors have recently shown interest, with new stakes being acquired by several firms, yet only 0.45% of the stock is currently owned by them.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $56.19, but opened at $46.91. Newegg Commerce shares last traded at $44.47, with a volume of 753,438 shares changing hands.

Newegg Commerce Stock Down 12.8%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76. The stock's fifty day moving average is $19.50 and its 200 day moving average is $10.95.

Insider Activity

In related news, major shareholder Vladimir Galkin acquired 416,799 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were purchased at an average cost 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 of the company's stock, valued at $94,815,015.68. This represents a 15.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 1,122,119 shares of company stock valued at $36,361,527. Company insiders own 22.90% of the company's stock.

Institutional Trading of Newegg Commerce

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in Newegg Commerce by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock valued at $34,000 after purchasing an additional 34,900 shares during the period. Jane Street Group LLC bought a new position in shares of Newegg Commerce in the 4th quarter worth about $44,000. Squarepoint Ops LLC acquired a new position in Newegg Commerce during the 4th quarter valued at about $69,000. XTX Topco Ltd purchased a new stake in Newegg Commerce during the first quarter valued at about $55,000. Finally, FNY Investment Advisers LLC purchased a new position in Newegg Commerce during the second quarter valued at approximately $64,000. Hedge funds and other institutional investors own 0.45% of the company's stock.

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.