Newegg Commerce (NASDAQ:NEGG) Trading Down 8.3% – Should You Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price dropped 8.3% during mid-day trading on Thursday . The stock traded as low as $34.25 and last traded at $33.77. Approximately 65,936 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 69,974 shares. The stock had previously closed at $36.83.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Newegg Commerce Stock Performance

The business has a 50-day moving average of $41.09 and a two-hundred day moving average of $53.66.

Newegg Commerce (NASDAQ:NEGG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.38. The firm had revenue of $374.40 million during the quarter, compared to analyst estimates of $439.20 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in Newegg Commerce during the third quarter worth $30,000. Royal Bank of Canada lifted its holdings in shares of Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares during the period. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth about $251,000. Qube Research & Technologies Ltd acquired a new stake in shares of Newegg Commerce during the 3rd quarter valued at about $207,000. Finally, Quantum Private Wealth LLC acquired a new stake in shares of Newegg Commerce during the 3rd quarter valued at about $210,000. 0.45% of the stock is owned by institutional investors.

About Newegg Commerce

Newegg Commerce, Inc (NASDAQ: NEGG) is a leading online retailer and marketplace specializing in technology products, consumer electronics and computer hardware. Founded in 2001 and headquartered in City of Industry, California, the company operates the flagship Newegg.com platform, which offers an extensive selection of desktops, laptops, components, peripherals, software and related accessories. Newegg’s business model combines direct retail sales with a third-party marketplace, enabling both established brands and independent sellers to reach a technology-focused audience.

In addition to its core e-commerce offerings, Newegg provides a range of value-added services, including logistics support, warehousing and fulfillment solutions designed to streamline order processing for marketplace partners.