Newegg Commerce (NASDAQ:NEGG) Trading Down 6.5% - Time to Sell?

Key Points

• Newegg Commerce's stock dropped by 6.5% on Monday, reaching a low of $40.70 before closing at $40.39, significantly below its fifty-day moving average of $57.17.
• Major shareholder Vladimir Galkin purchased 416,799 shares at an average of $29.68 per share, increasing his ownership stake by 15%.
• Institutional investors have shown interest, with Bank of America Corp DE significantly increasing its stake by 10,675% in the second quarter.

Newegg Commerce, Inc. (NASDAQ:NEGG - )'s stock price traded down 6.5% on Monday . The company traded as low as $40.70 and last traded at $40.39. 1,658,477 shares were traded during mid-day trading, an increase of 121% from the average session volume of 750,905 shares. The stock had previously closed at $43.18.

Newegg Commerce Trading Down 7.4%

The stock's fifty day moving average is $57.17 and its two-hundred day moving average is $25.79. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 416,799 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were bought at an average cost of $29.68 per share, with a total value of $12,370,594.32. Following the acquisition, the insider owned 3,194,576 shares of the company's stock, valued at $94,815,015.68. This represents a 15.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 1,133,230 shares of company stock valued at $37,525,071. 22.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newegg Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in Newegg Commerce in the 2nd quarter valued at about $64,000. Bank of America Corp DE raised its stake in 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 valued at $175,000 after acquiring an additional 10,675 shares during the period. Jane Street Group LLC bought a new stake in Newegg Commerce in the 4th quarter valued at about $44,000. Squarepoint Ops LLC bought a new stake in Newegg Commerce in the 4th quarter valued at about $69,000. Finally, XTX Topco Ltd bought a new stake in Newegg Commerce in the 1st quarter valued at about $55,000. 0.45% of the stock is currently 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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