Newegg Commerce (NASDAQ:NEGG) Shares Gap Up - Time to Buy?

Key Points

• Newegg Commerce's stock price gapped up significantly at market opening, moving from a previous close of $101.02 to an opening at $109.99.
• Major shareholder Vladimir Galkin purchased 416,799 shares at an average price of $29.68, increasing his ownership stake by 15% and bringing his total shares to 3,194,576.
• Institutional investment in Newegg is on the rise, with Bank of America increasing its holdings by over 10,600% during the second quarter.

Newegg Commerce, Inc. (NASDAQ:NEGG - )'s stock price gapped up before the market opened on Monday . The stock had previously closed at $101.02, but opened at $109.99. Newegg Commerce shares last traded at $101.55, with a volume of 173,658 shares.

Newegg Commerce Trading Up 5.1%

The company has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $16.02. 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 at Newegg Commerce

In other Newegg Commerce news, major shareholder Vladimir Galkin bought 416,799 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of $29.68 per share, with a total value of $12,370,594.32. Following the acquisition, the insider owned 3,194,576 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders purchased 1,122,119 shares of company stock worth $36,361,527. 22.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new position in shares of Newegg Commerce during the 2nd quarter worth approximately $64,000. Bank of America Corp DE increased its holdings in shares of Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after acquiring an additional 10,675 shares during the last quarter. Renaissance Technologies LLC lifted its holdings 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 during the last quarter. Jane Street Group LLC acquired a new stake in Newegg Commerce during the 4th quarter worth approximately $44,000. Finally, Squarepoint Ops LLC acquired a new position in Newegg Commerce in the 4th quarter valued at $69,000. 0.45% of the stock is owned by institutional investors and hedge funds.

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.

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