Newegg Commerce (NASDAQ:NEGG) Sees Large Volume Increase – What’s Next?

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) saw unusually-strong trading volume on Friday . Approximately 1,895,689 shares traded hands during mid-day trading, an increase of 144% from the previous session’s volume of 776,240 shares.The stock last traded at $65.17 and had previously closed at $47.37.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Newegg Commerce in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Newegg Commerce Price Performance

The firm has a 50 day moving average price of $52.73 and a 200 day moving average price of $31.85. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Insider Activity at Newegg Commerce

In related news, major shareholder Vladimir Galkin acquired 11,111 shares of the stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the purchase, the insider directly owned 3,511,111 shares in the company, valued at $367,683,543.92. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.90% of the stock is currently owned by company insiders.

Institutional Trading of Newegg Commerce

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