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

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

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Newegg Commerce in the 4th quarter worth about $69,000. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce in the fourth quarter valued at approximately $44,000. Finally, Renaissance Technologies LLC increased its stake 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 purchasing an additional 34,900 shares during the period. Institutional investors and hedge funds own 0.45% of the company’s stock.

Newegg Commerce Stock Performance

NASDAQ:NEGG traded up $0.01 during midday trading on Thursday, reaching $0.39. 392,883 shares of the company traded hands, compared to its average volume of 924,275. Newegg Commerce has a twelve month low of $0.35 and a twelve month high of $1.32. The company has a current ratio of 1.21, a quick ratio of 0.54 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average price of $0.44 and a 200 day moving average price of $0.59.

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.