Newegg Commerce (NASDAQ:NEGG) Trading Down 6.5% – Time to Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares traded down 6.5% on Monday . The stock traded as low as $40.70 and last traded at $40.39. 1,658,477 shares traded hands during trading, an increase of 121% from the average session volume of 750,905 shares. The stock had previously closed at $43.18.

Newegg Commerce Trading Down 7.4%

The company has a 50-day moving average price of $57.17 and a two-hundred day moving average price of $25.79. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 11,111 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $104.72 per share, for a total transaction of $1,163,543.92. Following the completion of the transaction, the insider directly owned 3,511,111 shares in the company, valued at approximately $367,683,543.92. This represents a 0.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 1,133,230 shares of company stock worth $37,525,071 in the last quarter. Corporate insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently modified their holdings of NEGG. Bank of America Corp DE increased its position in shares of Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after purchasing an additional 10,675 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Newegg Commerce in the second quarter worth approximately $4,281,000. FNY Investment Advisers LLC bought a new position in shares of Newegg Commerce in the second quarter worth approximately $64,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce in the first quarter worth approximately $55,000. Finally, Squarepoint Ops LLC bought a new position in shares of Newegg Commerce in the fourth quarter worth approximately $69,000. 0.45% of the stock is currently owned by 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.