Newegg Commerce (NASDAQ:NEGG) Stock Price Up 19.5% - Here's Why

Key Points

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Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) traded up 19.5% during trading on Thursday . The stock traded as high as $54.00 and last traded at $53.76. 382,828 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 406,723 shares. The stock had previously closed at $44.97.

Newegg Commerce Stock Down 16.1%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.16. The stock's 50 day moving average is $20.46 and its two-hundred day moving average is $11.24.

Insider Activity at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 138,757 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $42.33 per share, with a total value of $5,873,583.81. Following the completion of the acquisition, the insider directly owned 3,333,333 shares in the company, valued at $141,099,985.89. This represents a 4.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 1,122,119 shares of company stock valued at $36,361,527 over the last three months. 22.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Newegg Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Newegg Commerce by 69.1% in the 4th 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 in the last quarter. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce in the 4th quarter valued at approximately $44,000. XTX Topco Ltd purchased a new stake in shares of Newegg Commerce in the first quarter valued at approximately $55,000. FNY Investment Advisers LLC acquired a new position in Newegg Commerce during the second quarter worth $64,000. Finally, Squarepoint Ops LLC acquired a new position in Newegg Commerce during the fourth quarter worth $69,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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.