Newegg Commerce (NASDAQ:NEGG) Stock Price Up 8.9% Following Insider Buying Activity

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) rose 8.9% on Thursday following insider buying activity. The stock traded as high as $30.90 and last traded at $29.54. Approximately 306,753 shares were traded during trading, an increase of 53% from the average daily volume of 199,940 shares. The stock had previously closed at $27.12.

Specifically, major shareholder Vladimir Galkin bought 111,111 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The shares were purchased at an average cost of $29.56 per share, with a total value of $3,284,441.16. Following the transaction, the insider directly owned 2,555,555 shares in the company, valued at approximately $75,542,205.80. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Vladimir Galkin purchased 222,222 shares of the stock in a transaction on Monday, July 14th. The stock was acquired at an average cost of $41.14 per share, for a total transaction of $9,142,213.08. Following the completion of the acquisition, the insider owned 2,444,444 shares of the company’s stock, valued at $100,564,426.16. The trade was a 10.00% increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Vladimir Galkin bought 57,920 shares of the stock in a transaction dated Wednesday, July 9th. The shares were acquired at an average cost of $21.77 per share, with a total value of $1,260,918.40. Following the purchase, the insider directly owned 2,222,222 shares in the company, valued at $48,377,772.94. The trade was a 2.68% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Newegg Commerce Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm’s 50 day simple moving average is $12.93 and its 200-day simple moving average is $8.91.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in Newegg Commerce by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock worth $34,000 after purchasing an additional 34,900 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Newegg Commerce in the fourth quarter worth $44,000. XTX Topco Ltd acquired a new position in shares of Newegg Commerce in the first quarter worth $55,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce in the fourth quarter worth $69,000. 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.