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

Newegg Commerce, Inc. (NASDAQ:NEGG) saw unusually-strong trading volume on Tuesday after an insider bought additional shares in the company. Approximately 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 purchased 222,222 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were acquired at an average cost of $41.14 per share, for a total transaction of $9,142,213.08. Following the transaction, the insider owned 2,444,444 shares of the company’s stock, valued at $100,564,426.16. This trade represents a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Vladimir Galkin purchased 57,920 shares of the company’s stock in a transaction dated Wednesday, July 9th. The shares were bought at an average price of $21.77 per share, for a total transaction of $1,260,918.40. Following the completion of the transaction, the insider directly owned 2,222,222 shares in the company, valued at approximately $48,377,772.94. This trade represents a 2.68% increase in their position. The disclosure for this purchase can be found here. In related news, major shareholder Vladimir Galkin purchased 64,199 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were acquired at an average cost of $18.10 per share, for a total transaction of $1,162,001.90. Following the transaction, the insider owned 2,164,302 shares of the company’s stock, valued at $39,173,866.20. This trade represents a 3.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 business has a 50-day moving average price of $11.91 and a two-hundred day moving average price of $8.63.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEGG. Renaissance Technologies LLC grew its holdings 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 buying an additional 34,900 shares in the last quarter. Jane Street Group LLC bought a new position in Newegg Commerce in the 4th quarter worth approximately $44,000. Squarepoint Ops LLC bought a new position in Newegg Commerce in the 4th quarter worth approximately $69,000. Finally, XTX Topco Ltd bought a new position in Newegg Commerce in the 1st quarter worth approximately $55,000. 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.