Newegg Commerce, Inc. (NASDAQ:NEGG) Sees Large Decrease in Short Interest

Newegg Commerce, Inc. (NASDAQ:NEGG) was the recipient of 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 company’s stock are sold short. Based on an average daily trading volume, of 900,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in Newegg Commerce by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock valued at $34,000 after purchasing an additional 34,900 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Newegg Commerce in the 4th quarter valued at about $44,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce during the 4th quarter valued at about $69,000. 0.45% of the stock is owned by institutional investors and hedge funds.

Newegg Commerce Price Performance

NASDAQ NEGG traded up $0.01 on Thursday, hitting $0.39. 392,883 shares of the stock traded hands, compared to its average volume of 924,275. The stock has a 50-day moving average of $0.44 and a 200 day moving average of $0.59. The company has a current ratio of 1.21, a quick ratio of 0.54 and a debt-to-equity ratio of 0.54. Newegg Commerce has a twelve month low of $0.35 and a twelve month 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.