Newegg Commerce (NASDAQ:NEGG) Trading 4.8% Higher - Time to Buy?

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.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) traded up 4.8% during trading on Tuesday . The stock traded as high as $75.49 and last traded at $73.64. 640,839 shares traded 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 Stock Down 21.1%

The stock has a fifty day simple moving average of $34.61 and a two-hundred day simple moving average of $15.97. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling at Newegg Commerce

In related news, major shareholder Vladimir Galkin bought 138,757 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $42.33 per share, with a total value of $5,873,583.81. Following the completion of the purchase, the insider directly owned 3,333,333 shares in the company, valued at $141,099,985.89. The trade was a 4.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 1,122,119 shares of company stock valued at $36,361,527. Insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 purchased a new stake in shares of Newegg Commerce in the fourth quarter worth approximately $44,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce in the first quarter valued at approximately $55,000. FNY Investment Advisers LLC purchased a new position in shares of Newegg Commerce during the second quarter valued at approximately $64,000. Finally, Squarepoint Ops LLC bought a new position in Newegg Commerce during the 4th quarter valued at $69,000. Institutional investors own 0.45% of the company's stock.

About Newegg Commerce

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.