Newegg Commerce (NASDAQ:NEGG) Trading Down 7.6% - Here's Why

Key Points

• Newegg Commerce, Inc. shares fell by 7.6% on Monday, closing at $40.64 after trading as low as $42.66, with a notable decline in trading volume.
• Major shareholder Vladimir Galkin purchased 11,111 shares at $104.72 each, raising their total ownership to 3,511,111 shares valued at approximately $367.6 million.
• Recent institutional investments have surged, with significant purchases in shares, including a 10,675.0% increase by Bank of America Corp, highlighting growing interest despite recent stock performance.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares were down 7.6% on Monday . The company traded as low as $42.66 and last traded at $40.64. Approximately 503,965 shares changed hands during trading, a decline of 24% from the average daily volume of 659,768 shares. The stock had previously closed at $43.98.

Newegg Commerce Stock Up 18.2%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25. The business's 50 day simple moving average is $55.83 and its two-hundred day simple moving average is $24.29.

Insiders Place Their Bets

In related news, major shareholder Vladimir Galkin bought 11,111 shares of the firm's stock in a transaction on Friday, August 15th. The stock was acquired at an average cost of $104.72 per share, for a total transaction of $1,163,543.92. Following the purchase, the insider owned 3,511,111 shares in the company, valued at approximately $367,683,543.92. This represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 1,133,230 shares of company stock worth $37,525,071. 22.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newegg Commerce

A number of hedge funds have recently added to or reduced their stakes in NEGG. FNY Investment Advisers LLC purchased a new stake in shares of Newegg Commerce in the 2nd quarter worth $64,000. Bank of America Corp DE increased its stake in shares of Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after purchasing an additional 10,675 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Newegg Commerce in the 4th quarter worth $44,000. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce in the 4th quarter worth $69,000. Finally, XTX Topco Ltd purchased a new stake in shares of Newegg Commerce in the 1st quarter worth $55,000. 0.45% of the stock is currently 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.