Newegg Commerce (NASDAQ:NEGG) Trading 12.3% Higher - Should You 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) traded up 12.3% on Friday . The stock traded as high as $31.70 and last traded at $34.48. 14,092 shares changed hands during trading, a decline of 96% from the average session volume of 370,284 shares. The stock had previously closed at $30.71.

Newegg Commerce Trading Up 13.9%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.16. The business has a 50-day simple moving average of $15.89 and a 200-day simple moving average of $9.81.

Insider Activity at Newegg Commerce

In other news, major shareholder Vladimir Galkin acquired 416,799 shares of Newegg Commerce 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 transaction, the insider directly owned 3,194,576 shares of the company's stock, valued at $94,815,015.68. This trade represents a 15.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have bought 983,362 shares of company stock worth $30,487,943. 22.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position 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 acquiring an additional 34,900 shares during the last quarter. Jane Street Group LLC purchased a new stake in Newegg Commerce during the 4th quarter worth approximately $44,000. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce during the fourth quarter valued at $69,000. Finally, XTX Topco Ltd acquired a new position in shares of Newegg Commerce in the 1st quarter valued at $55,000. 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.