Newegg Commerce, Inc. (NASDAQ:NEGG) Sees Significant Growth in Short Interest

Newegg Commerce, Inc. (NASDAQ:NEGG) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, a growth of 48.7% from the February 13th total of 692,700 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average trading volume of 901,900 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce during the 4th quarter valued at about $69,000. Jane Street Group LLC purchased a new stake in Newegg Commerce in the 4th quarter worth approximately $44,000. Finally, Renaissance Technologies LLC increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Newegg Commerce Stock Performance

NEGG traded down $0.10 during midday trading on Friday, hitting $0.28. 4,345,999 shares of the company traded hands, compared to its average volume of 714,080. Newegg Commerce has a 52 week low of $0.24 and a 52 week high of $1.32. 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 company’s 50-day moving average is $0.43 and its 200 day moving average is $0.57.

Newegg Commerce shares are set to reverse split on the morning of 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.

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.