Newegg Commerce, Inc. (NASDAQ:NEGG) Short Interest Update

Newegg Commerce, Inc. (NASDAQ:NEGG) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, an increase of 48.7% from the February 13th total of 692,700 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 901,900 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors have recently modified their holdings of NEGG. Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce in the 4th quarter worth approximately $69,000. Jane Street Group LLC bought a new stake in Newegg Commerce in the fourth quarter worth $44,000. Finally, Renaissance Technologies LLC lifted its stake in Newegg Commerce by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock worth $34,000 after purchasing an additional 34,900 shares during the last quarter. 0.45% of the stock is currently owned by institutional investors.

Newegg Commerce Stock Up 3.5 %

Shares of NASDAQ NEGG traded up $0.01 during mid-day trading on Monday, reaching $0.29. 535,258 shares of the company were exchanged, compared to its average volume of 711,225. Newegg Commerce has a 52 week low of $0.24 and a 52 week high of $1.32. The company’s 50 day moving average price is $0.43 and its 200 day moving average price is $0.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.54 and a current ratio of 1.21.

Newegg Commerce shares are scheduled 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 closing bell on Friday, April 4th.

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.