Newegg Commerce, Inc. (NASDAQ:NEGG – Get Rating)’s stock price rose 10.1% on Monday . The company traded as high as $1.22 and last traded at $1.20. Approximately 799,549 shares were traded during trading, a decline of 46% from the average daily volume of 1,478,423 shares. The stock had previously closed at $1.09.
Wall Street Analysts Forecast Growth
Separately, Noble Financial initiated coverage on shares of Newegg Commerce in a report on Monday, February 6th. They set an “outperform” rating and a $3.50 target price for the company.
Newegg Commerce Trading Up 10.1 %
The business’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.76 and a current ratio of 1.26.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in Newegg Commerce by 59.0% in the 1st quarter. Invesco Ltd. now owns 452,244 shares of the company’s stock worth $2,858,000 after purchasing an additional 167,798 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Newegg Commerce in the 4th quarter worth $488,000. Geode Capital Management LLC grew its position in Newegg Commerce by 38.8% in the 1st quarter. Geode Capital Management LLC now owns 306,113 shares of the company’s stock worth $410,000 after purchasing an additional 85,533 shares during the last quarter. State Street Corp grew its position in Newegg Commerce by 9.9% in the 1st quarter. State Street Corp now owns 131,548 shares of the company’s stock worth $176,000 after purchasing an additional 11,895 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Newegg Commerce by 43.0% in the 1st quarter. Jane Street Group LLC now owns 126,729 shares of the company’s stock worth $170,000 after purchasing an additional 38,095 shares during the last quarter. 0.62% of the stock is currently owned by institutional investors and hedge funds.
About Newegg Commerce
Newegg Commerce, Inc is an e-commerce company. It offers direct sales and an online marketplace platform for IT computer components, consumer electronics, entertainment, smart home and gaming products. The firm also provides third-party logistics services globally. The company was founded on July 22, 2003 and is headquartered in City of Industry, CA.
- Get a free copy of the StockNews.com research report on Newegg Commerce (NEGG)
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