Newegg Commerce (NASDAQ:NEGG) Shares Down 3.9% – Time to Sell?

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) were down 3.9% on Wednesday . The company traded as low as $75.60 and last traded at $74.8770. Approximately 19,671 shares changed hands during trading, a decline of 97% from the average daily volume of 767,380 shares. The stock had previously closed at $77.90.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Newegg Commerce in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Newegg Commerce currently has a consensus rating of “Sell”.

Newegg Commerce Stock Down 1.9%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25. The stock has a 50-day simple moving average of $60.49 and a 200 day simple moving average of $43.56.

Institutional Investors Weigh In On Newegg Commerce

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new position in Newegg Commerce during the 3rd quarter worth approximately $30,000. XTX Topco Ltd purchased a new stake in shares of Newegg Commerce in the 1st quarter valued at $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Newegg Commerce in the second quarter worth $64,000. Bank of America Corp DE raised its holdings in shares of 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 worth $175,000 after purchasing an additional 10,675 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Newegg Commerce during the third quarter worth $207,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Newegg Commerce Company Profile

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.