Fred Faching Chang Sells 23,582 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 23,582 shares of Newegg Commerce stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $16.77, for a total transaction of $395,470.14. Following the completion of the sale, the director owned 3,077,269 shares of the company’s stock, valued at $51,605,801.13. This trade represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.40, for a total transaction of $58,744.80.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $15.87, for a total transaction of $56,846.34.

Newegg Commerce Stock Down 7.0%

Shares of NEGG opened at $15.32 on Friday. Newegg Commerce, Inc. has a 12 month low of $12.50 and a 12 month high of $96.29. The firm’s 50 day moving average is $15.91 and its 200-day moving average is $26.81. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

Newegg Commerce (NASDAQ:NEGG) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51. The business had revenue of $320.41 million during the quarter, compared to analyst estimates of $439.20 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position 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 in the last quarter. Squarepoint Ops LLC acquired a new position in Newegg Commerce during the fourth quarter valued at approximately $251,000. Jane Street Group LLC acquired a new position in Newegg Commerce during the fourth quarter valued at approximately $2,042,000. O Shaughnessy Asset Management LLC lifted its stake in Newegg Commerce by 234.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock worth $1,489,000 after purchasing an additional 20,575 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Newegg Commerce during the fourth quarter worth $490,000. 0.45% of the stock is currently 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.