Newegg Commerce, Inc. (NASDAQ:NEGG) Short Interest Update

Newegg Commerce, Inc. (NASDAQ:NEGG) 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’s stock is scheduled to reverse split before the market opens on Monday, April 7th. The 1-20 reverse split was announced on Friday, March 14th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 4th.

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.