Newegg Commerce (NASDAQ:NEGG) Shares Gap Up to $2.46

Newegg Commerce, Inc. (NASDAQ:NEGGGet Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $2.46, but opened at $2.56. Newegg Commerce shares last traded at $2.52, with a volume of 8,130 shares trading hands.

Newegg Commerce Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.30 and a quick ratio of 0.60. The business has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $4.57.

Institutional Investors Weigh In On Newegg Commerce

Several large investors have recently added to or reduced their stakes in NEGG. Penserra Capital Management LLC boosted its stake in Newegg Commerce by 35,220.6% during the fourth quarter. Penserra Capital Management LLC now owns 1,053,614 shares of the company’s stock valued at $10,925,000 after buying an additional 1,050,631 shares during the period. Invesco Ltd. raised its position in Newegg Commerce by 59.0% during the first quarter. Invesco Ltd. now owns 452,244 shares of the company’s stock valued at $2,858,000 after purchasing an additional 167,798 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Newegg Commerce during the second quarter valued at about $135,000. Triatomic Management LP purchased a new stake in Newegg Commerce during the first quarter valued at about $139,000. Finally, Renaissance Technologies LLC purchased a new stake in Newegg Commerce during the second quarter valued at about $76,000. Institutional investors own 0.61% of the company’s stock.

About Newegg Commerce

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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, home audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; Xbox, Playstation, legacy gaming, and gaming titles; and home networking, commercial networking, server and components, and smart home products.

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