Newegg Commerce (NASDAQ:NEGG) Hits New 1-Year Low – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG) hit a new 52-week low on Tuesday . The company traded as low as $13.50 and last traded at $13.87, with a volume of 50711 shares trading hands. The stock had previously closed at $14.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Newegg Commerce Trading Down 2.0%

The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $19.02 and its 200 day moving average is $36.38.

Newegg Commerce (NASDAQ:NEGG) last released its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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.

Insider Activity

In other news, Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. Following the sale, the director owned 3,414,433 shares of the company’s stock, valued at approximately $117,900,371.49. The trade was a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 220,201 shares of company stock worth $5,438,310. 22.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new position in Newegg Commerce during the third quarter worth about $30,000. Royal Bank of Canada raised its position in Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Newegg Commerce in the 4th quarter valued at about $251,000. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce in the 3rd quarter valued at about $207,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Newegg Commerce during the 4th quarter valued at about $490,000. Institutional investors own 0.45% of the company’s stock.

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.