Short Interest in Newegg Commerce, Inc. (NASDAQ:NEGG) Declines By 18.8%

Newegg Commerce, Inc. (NASDAQ:NEGG) saw a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 692,700 shares, a decline of 18.8% from the January 31st total of 853,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 900,000 shares, the days-to-cover ratio is currently 0.8 days.

Newegg Commerce Stock Down 7.7 %

Shares of NEGG opened at $0.37 on Tuesday. The company’s 50 day simple moving average is $0.44 and its 200-day simple moving average is $0.59. Newegg Commerce has a 12-month low of $0.36 and a 12-month high of $1.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.54 and a current ratio of 1.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in shares of Newegg Commerce by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock valued at $34,000 after buying an additional 34,900 shares during the last quarter. Jane Street Group LLC acquired a new position in Newegg Commerce in the 4th quarter valued at about $44,000. Finally, Squarepoint Ops LLC purchased a new stake in Newegg Commerce during the 4th quarter valued at approximately $69,000. 0.45% of the stock is owned by hedge funds and other 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.