Newegg Commerce (NASDAQ:NEGG) Stock Price Down 7.6% - Here's What Happened

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 - ) shares were down 7.6% on Monday . The stock 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 Price Performance

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 firm has a 50 day moving average price of $53.83 and a two-hundred day moving average price of $23.18.

Insider Buying and Selling at Newegg Commerce

In related news, major shareholder Vladimir Galkin acquired 11,111 shares of Newegg Commerce stock in a transaction dated Friday, August 15th. The stock was acquired at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the purchase, the insider directly owned 3,511,111 shares in the company, valued at $367,683,543.92. The trade was a 0.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders acquired 1,133,230 shares of company stock worth $37,525,071. Company insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Newegg Commerce

Several large investors have recently modified their holdings of NEGG. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce in the fourth quarter valued at $69,000. XTX Topco Ltd purchased a new stake in shares of Newegg Commerce in the first quarter valued at $55,000. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce in the second quarter valued at $4,281,000. Bank of America Corp DE lifted its holdings in shares of Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock valued at $175,000 after purchasing an additional 10,675 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Newegg Commerce in the second quarter valued at $64,000. 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.

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