Newegg Commerce (NASDAQ:NEGG) Stock Price Down 9% Following Insider Selling

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price fell 9% during trading on Thursday after an insider sold shares in the company. The company traded as low as $17.18 and last traded at $16.9650. 13,283 shares were traded during trading, a decline of 83% from the average session volume of 76,078 shares. The stock had previously closed at $18.64.

Specifically, Director Fred Faching Chang sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $20.14, for a total value of $201,400.00. Following the sale, the director owned 3,176,646 shares of the company’s stock, valued at $63,977,650.44. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $19.40, for a total transaction of $388,000.00. Following the transaction, the director owned 3,186,646 shares of the company’s stock, valued at $61,820,932.40. This trade represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Newegg Commerce Trading Down 8.4%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76. The business has a fifty day moving average price of $33.80 and a 200 day moving average price of $48.73.

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

Institutional Trading of Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce during the 3rd quarter worth approximately $30,000. Royal Bank of Canada grew its position in shares of Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after buying an additional 985 shares during the last quarter. Bank of America Corp DE grew its position in shares of Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after buying an additional 10,675 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce during the 3rd quarter worth $207,000. Finally, Quantum Private Wealth LLC purchased a new stake in Newegg Commerce in the third quarter valued at $210,000. Institutional investors and hedge funds 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.