Newegg Commerce (NASDAQ:NEGG) Shares Up 13.7% - Time to Buy?

Key Points

• Newegg Commerce, Inc. (NASDAQ:NEGG) shares rose by 13.7% on Thursday, closing at $40.84 after trading as high as $38.89.
• Major shareholder Vladimir Galkin purchased 416,799 shares at $29.68 each, increasing his stake in the company by 15%, now holding a total of 3,194,576 shares valued at approximately $94.8 million.
• Following recent trades, institutional investors own only 0.45% of the company's stock, indicating limited institutional interest compared to retail ownership.

Newegg Commerce, Inc. (NASDAQ:NEGG - ) traded up 13.7% on Thursday . The stock traded as high as $38.89 and last traded at $40.84. 107,486 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 631,209 shares. The stock had previously closed at $35.91.

Newegg Commerce Stock Performance

The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $52.85 and a 200 day moving average of $22.73.

Insider Activity at Newegg Commerce

In other Newegg Commerce news, major shareholder Vladimir Galkin purchased 416,799 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the purchase, the insider owned 3,194,576 shares in the company, valued at $94,815,015.68. The trade was a 15.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 1,133,230 shares of company stock valued at $37,525,071 in the last 90 days. Insiders own 22.90% of the company's stock.

Institutional Trading of Newegg Commerce

Several institutional investors and hedge funds have recently bought and sold shares of NEGG. Jane Street Group LLC acquired a new stake in Newegg Commerce during the fourth quarter valued at approximately $44,000. XTX Topco Ltd acquired a new stake in shares of Newegg Commerce during the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC bought a new position in Newegg Commerce in the 2nd quarter worth approximately $64,000. Squarepoint Ops LLC bought a new position in Newegg Commerce in the 4th quarter worth approximately $69,000. Finally, Bank of America Corp DE boosted its stake in 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 valued at $175,000 after purchasing an additional 10,675 shares in the last quarter. Institutional investors and hedge funds 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.

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