Newegg Commerce (NASDAQ:NEGG) Shares Up 12.3% - Time to Buy?

Key Points

• Newegg Commerce, Inc. (NASDAQ:NEGG) experienced a stock price increase of 12.3%, reaching a last traded price of $34.48 after closing at $30.71.
• Major shareholder Vladimir Galkin acquired 416,799 shares, increasing his stake by 15% to a total of 3,194,576 shares valued at approximately $94.8 million.
• Institutional investors recently increased their positions, with Renaissance Technologies LLC boosting theirs by 69.1% during the fourth quarter.
• Insiders currently hold 22.90% of the company’s stock, and the company shows positive financial metrics with a debt-to-equity ratio of 0.50.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares were up 12.3% during mid-day trading on Friday . The company traded as high as $31.70 and last traded at $34.48. Approximately 14,092 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 370,284 shares. The stock had previously closed at $30.71.

Newegg Commerce Stock Up 23.8%

The stock has a fifty day moving average price of $16.55 and a 200-day moving average price of $10.01. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Insider Activity

In other Newegg Commerce news, major shareholder Vladimir Galkin bought 416,799 shares of Newegg Commerce stock in a transaction dated Thursday, July 17th. The stock was bought at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the completion of the acquisition, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 983,362 shares of company stock valued at $30,487,943 in the last ninety days. 22.90% of the stock is owned by corporate insiders.

Institutional Trading of Newegg Commerce

Several hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Newegg Commerce during the first quarter worth $55,000. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce during the fourth quarter worth $69,000. Jane Street Group LLC bought a new position in Newegg Commerce during the fourth quarter valued at about $44,000. Finally, Renaissance Technologies LLC raised its holdings in Newegg Commerce by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock valued at $34,000 after buying an additional 34,900 shares in the last quarter. 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.