Newegg Commerce, Inc. (NASDAQ:NEGG – Get Rating) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,590,000 shares, a drop of 15.9% from the December 31st total of 1,890,000 shares. Based on an average daily volume of 1,880,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 8.0% of the shares of the stock are sold short.

Newegg Commerce Price Performance

NASDAQ:NEGG opened at $2.00 on Monday. Newegg Commerce has a 52-week low of $1.16 and a 52-week high of $9.19. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.46. The business's 50-day moving average price is $1.60 and its 200 day moving average price is $2.44.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEGG. State Street Corp boosted its position in shares of Newegg Commerce by 493.5% in the third quarter. State Street Corp now owns 107,047 shares of the company's stock worth $250,000 after buying an additional 89,011 shares during the period. BlackRock Inc. lifted its position in shares of Newegg Commerce by 103.6% in the third quarter. BlackRock Inc. now owns 45,221 shares of the company's stock worth $106,000 after buying an additional 23,011 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Newegg Commerce in the 2nd quarter valued at approximately $135,000. Renaissance Technologies LLC acquired a new stake in Newegg Commerce in the 2nd quarter worth approximately $76,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Newegg Commerce by 24.3% in the first quarter. Goldman Sachs Group Inc. now owns 16,677 shares of the company's stock valued at $105,000 after purchasing an additional 3,258 shares during the period. Institutional investors and hedge funds own 0.62% of the company's stock.

About Newegg Commerce

Newegg Commerce, Inc is an e-commerce company. It offers direct sales and an online marketplace platform for IT computer components, consumer electronics, entertainment, smart home and gaming products. The firm also provides third-party logistics services globally. The company was founded on July 22, 2003 and is headquartered in City of Industry, CA.

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