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

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) saw unusually-strong trading volume on Tuesday following insider buying activity. Approximately 409,231 shares were traded during mid-day trading, an increase of 90% from the previous session’s volume of 215,084 shares.The stock last traded at $30.58 and had previously closed at $26.34.

Specifically, major shareholder Vladimir Galkin purchased 416,799 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were acquired at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the purchase, the insider directly owned 3,194,576 shares in the company, valued at $94,815,015.68. This trade represents a 15.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Vladimir Galkin purchased 111,111 shares of the firm’s stock in a transaction on Thursday, July 17th. The stock was bought at an average price of $29.41 per share, for a total transaction of $3,267,774.51. Following the purchase, the insider owned 2,777,777 shares in the company, valued at approximately $81,694,421.57. This represents a 4.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, major shareholder Vladimir Galkin purchased 111,111 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were acquired at an average price of $29.56 per share, for a total transaction of $3,284,441.16. Following the purchase, the insider directly owned 2,555,555 shares in the company, valued at $75,542,205.80. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Newegg Commerce Stock Up 15.9%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76. The stock’s fifty day moving average is $13.44 and its 200 day moving average is $9.06.

Hedge Funds Weigh In On Newegg Commerce

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of 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 purchasing an additional 34,900 shares in the last quarter. Jane Street Group LLC purchased a new stake in Newegg Commerce during the fourth quarter valued at approximately $44,000. XTX Topco Ltd purchased a new stake in Newegg Commerce during the first quarter valued at approximately $55,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Newegg Commerce in the fourth quarter worth $69,000. 0.45% of the stock is currently 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.