Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 20,000 Shares

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $19.66, for a total transaction of $393,200.00. Following the sale, the director owned 3,246,646 shares of the company’s stock, valued at approximately $63,829,060.36. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Fred Faching Chang also recently made the following trade(s):

• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $22.52, for a total transaction of $450,400.00.
• On Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $23.66, for a total transaction of $473,200.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The shares were sold at an average price of $25.41, for a total transaction of $176,447.04.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $26.25, for a total transaction of $525,000.00.
• On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The shares were sold at an average price of $30.25, for a total transaction of $196,110.75.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The shares were sold at an average price of $32.29, for a total transaction of $22,699.87.
• On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The shares were sold at an average price of $30.10, for a total transaction of $110,075.70.
• On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The shares were sold at an average price of $31.88, for a total transaction of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The shares were sold at an average price of $33.94, for a total transaction of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Price Performance

NASDAQ:NEGG traded up $1.07 on Wednesday, reaching $20.57. 131,778 shares of the stock traded hands, compared to its average volume of 76,664. The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. Newegg Commerce, Inc. has a 12 month low of $4.70 and a 12 month high of $137.84. The company’s fifty day simple moving average is $36.49 and its 200 day simple moving average is $51.41.

Newegg Commerce (NASDAQ:NEGG) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.38. The firm had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in NEGG. NewEdge Advisors LLC purchased a new position in Newegg Commerce during the third quarter valued at approximately $30,000. Royal Bank of Canada lifted its holdings in Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares in the last quarter. Bank of America Corp DE lifted its holdings in Newegg Commerce by 10,675.0% during the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after purchasing an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Newegg Commerce during the third quarter valued at approximately $207,000. Finally, Quantum Private Wealth LLC purchased a new position in Newegg Commerce during the third quarter valued at approximately $210,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newegg Commerce presently has a consensus rating of “Sell”.

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.