Newegg Commerce (NASDAQ:NEGG) Reaches New 1-Year Low – Should You Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG) hit a new 52-week low during trading on Thursday . The stock traded as low as $14.83 and last traded at $15.1650, with a volume of 35506 shares trading hands. The stock had previously closed at $15.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Newegg Commerce Price Performance

The firm has a fifty day moving average of $21.76 and a 200-day moving average of $38.25. The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24.

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

Insider Activity at Newegg Commerce

In related news, Director Fred Faching Chang sold 18,539 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total value of $370,780.00. Following the sale, the director directly owned 3,104,433 shares of the company’s stock, valued at approximately $62,088,660. This represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 220,201 shares of company stock valued at $5,438,310. 22.90% of the stock is owned by insiders.

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 the business. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce in the second quarter valued at about $4,281,000. UBS Group AG increased its stake in shares of Newegg Commerce by 242.0% during the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after purchasing an additional 53,411 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Newegg Commerce during the 4th quarter worth approximately $2,042,000. BNP Paribas Financial Markets acquired a new position in shares of Newegg Commerce during the 3rd quarter worth approximately $1,603,000. Finally, XTX Topco Ltd purchased a new stake in Newegg Commerce in the 3rd quarter valued at approximately $1,343,000. Institutional investors and hedge funds own 0.45% of the company’s stock.

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.