Newegg Commerce (NASDAQ:NEGG) Sees Unusually-High Trading Volume – Still a Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares saw unusually-strong trading volume on Monday . Approximately 518,852 shares were traded during mid-day trading, an increase of 353% from the previous session’s volume of 114,479 shares.The stock last traded at $14.66 and had previously closed at $10.40.

Newegg Commerce Stock Up 38.7%

The stock has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $7.52. The company has a quick ratio of 0.54, a current ratio of 1.21 and a debt-to-equity ratio of 0.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Newegg Commerce in the 1st quarter valued at $55,000. Squarepoint Ops LLC bought a new stake in Newegg Commerce in the fourth quarter valued at about $69,000. Jane Street Group LLC bought a new stake in Newegg Commerce in the fourth quarter valued at about $44,000. Finally, Renaissance Technologies LLC raised its position 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. 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.