Newegg Commerce (NASDAQ:NEGG) Director Sells $370,780.00 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 18,539 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total transaction of $370,780.00. Following the sale, the director owned 3,104,433 shares in the company, valued at approximately $62,088,660. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, June 2nd, Fred Faching Chang sold 11,091 shares of Newegg Commerce stock. The stock was sold at an average price of $20.19, for a total transaction of $223,927.29.
• On Monday, June 1st, Fred Faching Chang sold 2,583 shares of Newegg Commerce stock. The stock was sold at an average price of $17.58, for a total transaction of $45,409.14.
• On Thursday, May 28th, Fred Faching Chang sold 10,000 shares of Newegg Commerce stock. The stock was sold at an average price of $17.91, for a total transaction of $179,100.00.
• On Friday, May 22nd, Fred Faching Chang sold 10,000 shares of Newegg Commerce stock. The stock was sold at an average price of $20.14, for a total transaction of $201,400.00.
• On Thursday, May 21st, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.40, for a total transaction of $388,000.00.
• On Monday, May 18th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.66, for a total transaction of $393,200.00.
• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $26.25, for a total transaction of $525,000.00.

Newegg Commerce Stock Down 6.0%

NEGG stock opened at $17.34 on Friday. The company’s 50 day moving average price is $30.92 and its 200 day moving average price is $45.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. Newegg Commerce, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $137.84.

Newegg Commerce (NASDAQ:NEGG) last released its earnings results on Thursday, May 28th. The company reported $999.00 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Newegg Commerce has a consensus rating of “Sell”.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEGG. Marshall Wace LLP acquired a new position in Newegg Commerce in the second quarter valued at approximately $4,281,000. Bank of America Corp DE boosted its holdings in Newegg Commerce by 10,675.0% in 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. Quantum Private Wealth LLC acquired a new position in Newegg Commerce in the third quarter valued at approximately $210,000. BNP Paribas Financial Markets acquired a new position in Newegg Commerce in the third quarter valued at approximately $1,603,000. Finally, UBS Group AG boosted its holdings in Newegg Commerce by 242.0% in the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after purchasing an additional 53,411 shares in the last quarter. 0.45% of the stock is owned by institutional investors and hedge funds.

Newegg Commerce Company Profile

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.