Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, an increase of 48.7% from the February 13th total of 692,700 shares. Based on an average trading volume of 901,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.3% of the shares of the company are short sold.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in NEGG. Squarepoint Ops LLC purchased a new position in shares of Newegg Commerce during the 4th quarter valued at $69,000. Jane Street Group LLC purchased a new position in Newegg Commerce during the fourth quarter worth about $44,000. Finally, Renaissance Technologies LLC increased its stake 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 acquiring an additional 34,900 shares during the last quarter. Institutional investors own 0.45% of the company’s stock.
Newegg Commerce Trading Up 3.5 %
NASDAQ:NEGG traded up $0.01 on Monday, reaching $0.29. 535,258 shares of the company’s stock were exchanged, compared to its average volume of 711,225. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.21 and a quick ratio of 0.54. The stock has a fifty day simple moving average of $0.43 and a 200-day simple moving average of $0.56. Newegg Commerce has a 52 week low of $0.24 and a 52 week high of $1.32.
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.
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