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

Key Points

• Newegg Commerce shares gapped down from a previous close of $79.79 to an opening price of $77.17, with the last traded price at $72.36, indicating significant market movement before trading began.
• Major shareholder Vladimir Galkin increased his stake by buying 416,799 shares at $29.68 each, bringing his total ownership to approximately $94.8 million, which is a 15% increase.
• Recently, several institutional investors have acquired new positions in Newegg Commerce, indicating growing interest, although only 0.45% of the stock is currently owned by institutional investors.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $79.79, but opened at $77.17. Newegg Commerce shares last traded at $72.36, with a volume of 193,240 shares changing hands.

Newegg Commerce Stock Up 27.9%

The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $30.45 and a 200 day simple moving average of $14.56.

Insider Activity at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 416,799 shares of Newegg Commerce stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of $29.68 per share, for a total transaction of $12,370,594.32. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders bought 1,122,119 shares of company stock worth $36,361,527. 22.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEGG. Renaissance Technologies LLC increased its holdings in shares of Newegg Commerce by 69.1% in 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 position in shares of Newegg Commerce in the fourth quarter valued at about $44,000. XTX Topco Ltd purchased a new position in shares of Newegg Commerce in the first quarter valued at about $55,000. FNY Investment Advisers LLC purchased a new stake in shares of Newegg Commerce in the second quarter worth about $64,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce in the fourth quarter worth about $69,000. 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.