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Newegg Commerce (NASDAQ:NEGG) Trading Up 4.8% - Here's What Happened

Newegg Commerce logo with Retail/Wholesale background

Key Points

  • Newegg Commerce's shares increased by 4.8% during mid-day trading, with the stock reaching a high of $75.49 before closing at $73.64.
  • Major shareholder Vladimir Galkin bought 416,799 shares at an average price of $29.68, boosting his ownership by 15% and indicating strong insider confidence.
  • A number of institutional investors have also recently acquired stakes in Newegg, with notable acquisitions including FNY Investment Advisers and XTX Topco Ltd, demonstrating growing interest in the company's stock.
  • Want stock alerts on Newegg Commerce? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s stock price shot up 4.8% during mid-day trading on Tuesday . The company traded as high as $75.49 and last traded at $73.64. 640,839 shares changed hands during trading, a decline of 49% from the average session volume of 1,258,042 shares. The stock had previously closed at $70.27.

Newegg Commerce Price Performance

The stock has a 50 day simple moving average of $34.61 and a 200-day simple moving average of $15.92. 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 news, major shareholder Vladimir Galkin acquired 416,799 shares of Newegg Commerce stock in a transaction that occurred on Thursday, July 17th. The stock was bought at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 1,122,119 shares of company stock valued at $36,361,527 in the last three months. 22.90% of the stock is owned by insiders.

Institutional Trading of Newegg Commerce

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in Newegg Commerce during the 2nd quarter valued at approximately $4,281,000. XTX Topco Ltd purchased a new position in Newegg Commerce during the 1st quarter valued at approximately $55,000. Squarepoint Ops LLC purchased a new position in Newegg Commerce during the 4th quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in Newegg Commerce during the 4th quarter valued at approximately $44,000. Finally, Renaissance Technologies LLC grew 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 valued at $34,000 after buying an additional 34,900 shares in the last quarter. Institutional investors own 0.45% of the company's stock.

About Newegg Commerce

(Get Free Report)

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.

Further Reading

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