Newegg Commerce (NASDAQ:NEGG) Shares Up 19.5% - What's Next?

Key Points

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

Newegg Commerce Stock Up 9.1%

The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average price is $20.46 and its 200 day moving average price is $11.28.

Insider Activity at Newegg Commerce

In other Newegg Commerce news, major shareholder Vladimir Galkin bought 138,757 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $42.33 per share, with a total value of $5,873,583.81. Following the completion of the transaction, the insider directly owned 3,333,333 shares in the company, valued at approximately $141,099,985.89. The trade was a 4.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 1,122,119 shares of company stock worth $36,361,527 over the last ninety days. Insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Newegg Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Newegg Commerce by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock worth $34,000 after acquiring an additional 34,900 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Newegg Commerce during the fourth quarter worth about $44,000. XTX Topco Ltd bought a new stake in Newegg Commerce in the 1st quarter worth about $55,000. FNY Investment Advisers LLC bought a new stake in Newegg Commerce in the 2nd quarter worth about $64,000. Finally, Squarepoint Ops LLC bought a new stake in Newegg Commerce in the 4th quarter worth about $69,000. 0.45% of the stock is owned by 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.