Newegg Commerce (NASDAQ:NEGG) Shares Gap Down – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $41.93, but opened at $37.47. Newegg Commerce shares last traded at $39.42, with a volume of 524,483 shares changing hands.

Newegg Commerce Stock Performance

The firm’s fifty day moving average price is $49.54 and its 200 day moving average price is $21.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Insider Activity at Newegg Commerce

In related news, major shareholder Vladimir Galkin purchased 416,799 shares of the stock in a transaction dated Thursday, July 17th. The shares were acquired at an average cost of $29.68 per share, for a total transaction of $12,370,594.32. Following the acquisition, the insider directly owned 3,194,576 shares in the company, valued at approximately $94,815,015.68. The trade was a 15.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 1,133,230 shares of company stock worth $37,525,071. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in Newegg Commerce in the second quarter worth $64,000. Bank of America Corp DE boosted its holdings in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Newegg Commerce by 69.1% in the fourth 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 bought a new stake in Newegg Commerce in the fourth quarter worth $44,000. Finally, Squarepoint Ops LLC bought a new stake in 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.