Newegg Commerce (NASDAQ:NEGG) Shares Down 9% - Time to Sell?

Key Points

• Newegg Commerce's stock fell by 9% in trading, closing at $58.02 after reaching a low of $55.00, indicating a significant decline from its previous close of $63.79.
• Major shareholder Vladimir Galkin purchased 138,757 shares at $42.33 each, increasing his stake to 3,333,333 shares, demonstrating insider confidence in the company.
• Institutional investors have recently adjusted their holdings, with FNY Investment Advisers acquiring a new position and Renaissance Technologies increasing its stake by 69.1%.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s share price fell 9% on Friday . The company traded as low as $55.00 and last traded at $58.02. 384,732 shares changed hands during trading, a decline of 9% from the average session volume of 421,373 shares. The stock had previously closed at $63.79.

Newegg Commerce Stock Up 13.2%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76. The company has a 50-day moving average of $21.45 and a 200 day moving average of $11.60.

Insider Buying and Selling

In other Newegg Commerce news, major shareholder Vladimir Galkin purchased 416,799 shares of the stock in a transaction 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 completion of the acquisition, the insider owned 3,194,576 shares in the company, valued at $94,815,015.68. This trade represents a 15.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 1,122,119 shares of company stock valued at $36,361,527 over the last ninety days. Insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On Newegg Commerce

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in Newegg Commerce in the fourth quarter valued at $69,000. FNY Investment Advisers LLC purchased a new stake in Newegg Commerce in the second quarter valued at $64,000. XTX Topco Ltd purchased a new stake in Newegg Commerce in the first quarter valued at $55,000. Jane Street Group LLC purchased a new stake in Newegg Commerce in the fourth quarter valued at $44,000. Finally, Renaissance Technologies LLC raised its position in shares of Newegg Commerce by 69.1% in 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 during the period. 0.45% of the stock is 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.