Newegg Commerce (NASDAQ:NEGG) Trading Up 13.7% - Still a 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 - Get Free Report) shares rose 13.7% during trading on Thursday . The company traded as high as $38.89 and last traded at $40.84. Approximately 107,486 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 631,209 shares. The stock had previously closed at $35.91.

Newegg Commerce Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52. The business has a 50-day simple moving average of $54.37 and a 200 day simple moving average of $23.42.

Insider Buying and Selling

In related news, major shareholder Vladimir Galkin purchased 11,111 shares of Newegg Commerce stock in a transaction on Friday, August 15th. The stock was acquired at an average price of $104.72 per share, for a total transaction of $1,163,543.92. Following the completion of the transaction, the insider directly owned 3,511,111 shares in the company, valued at $367,683,543.92. This represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 1,133,230 shares of company stock valued at $37,525,071 in the last three months. Corporate insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Newegg Commerce

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in shares of Newegg Commerce in the fourth quarter worth about $44,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce in the first quarter worth about $55,000. FNY Investment Advisers LLC bought a new position in shares of Newegg Commerce in the second quarter worth about $64,000. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce in the fourth quarter worth about $69,000. Finally, Bank of America Corp DE boosted its stake in shares of Newegg Commerce by 10,675.0% in the second 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 period. 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.