Newegg Commerce (NASDAQ:NEGG) Sees Strong Trading Volume Following Insider Buying Activity

Newegg Commerce, Inc. (NASDAQ:NEGG) saw strong trading volume on Tuesday following insider buying activity. 522,653 shares were traded during trading, an increase of 177% from the previous session’s volume of 188,451 shares.The stock last traded at $28.98 and had previously closed at $36.22.

Specifically, major shareholder Vladimir Galkin acquired 222,222 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was purchased at an average cost of $41.14 per share, with a total value of $9,142,213.08. Following the completion of the acquisition, the insider directly owned 2,444,444 shares in the company, valued at $100,564,426.16. This represents a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Vladimir Galkin acquired 57,920 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was purchased at an average cost of $21.77 per share, with a total value of $1,260,918.40. Following the completion of the acquisition, the insider owned 2,222,222 shares of the company’s stock, valued at $48,377,772.94. The trade was a 2.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Vladimir Galkin acquired 64,199 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was purchased at an average cost of $18.10 per share, with a total value of $1,162,001.90. Following the completion of the acquisition, the insider directly owned 2,164,302 shares in the company, valued at $39,173,866.20. This represents a 3.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Newegg Commerce Price Performance

The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $11.91 and a two-hundred day moving average of $8.63.

Institutional Trading of Newegg Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in Newegg Commerce by 69.1% in 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 during the last quarter. Jane Street Group LLC bought a new stake in Newegg Commerce in the fourth quarter valued at about $44,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce during the first quarter valued at approximately $55,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Newegg Commerce during the 4th quarter worth approximately $69,000. 0.45% of the stock is owned by institutional investors.

About Newegg Commerce

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.