Newegg Commerce (NASDAQ:NEGG) Trading Down 12.9% - Here's Why

Key Points

• Newegg Commerce's stock price fell by 12.9% during mid-day trading, reaching a low of $90.00, with a final trading price of $87.80.
• Major shareholder Vladimir Galkin purchased 416,799 shares at an average price of $29.68, increasing his ownership by 15% and bringing his total holdings to approximately $94.8 million.
• Institutional investors have shown significant interest, with Bank of America increasing its stake by 10,675.0% in the second quarter, now holding shares valued at about $175,000.

Newegg Commerce, Inc. (NASDAQ:NEGG - )'s share price fell 12.9% during mid-day trading on Monday . The stock traded as low as $90.00 and last traded at $87.80. 321,903 shares were traded during mid-day trading, a decline of 38% from the average session volume of 519,371 shares. The stock had previously closed at $100.75.

Newegg Commerce Trading Down 16.1%

The stock's 50-day moving average is $43.96 and its 200 day moving average is $19.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52.

Insider Activity

In other news, major shareholder Vladimir Galkin bought 416,799 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were acquired 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 of the company's stock, valued at approximately $94,815,015.68. This trade represents a 15.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 1,133,230 shares of company stock worth $37,525,071 over the last 90 days. Company insiders own 22.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock valued at $175,000 after acquiring an additional 10,675 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Newegg Commerce in the second quarter valued at approximately $4,281,000. FNY Investment Advisers LLC purchased a new stake in shares of Newegg Commerce during the second quarter worth approximately $64,000. XTX Topco Ltd acquired a new stake in shares of Newegg Commerce during the first quarter worth $55,000. Finally, Squarepoint Ops LLC purchased a new position in Newegg Commerce in the 4th quarter valued at $69,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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.

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