Newegg Commerce (NASDAQ:NEGG) Trading Up 18.1% – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price rose 18.1% on Tuesday . The stock traded as high as $15.77 and last traded at $15.9590. 56,549 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 77,993 shares. The stock had previously closed at $13.51.

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, July 13th. One equities research 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 Up 13.2%

The company has a 50-day simple moving average of $16.08 and a two-hundred day simple moving average of $32.33. The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24.

Insider Activity at Newegg Commerce

In related news, Director Fred Faching Chang sold 20,000 shares of Newegg Commerce 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 sale, the director directly owned 3,186,646 shares in the company, valued at $61,820,932.40. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 166,544 shares of company stock valued at $3,648,843. Company insiders own 22.90% of the company’s stock.

Institutional Trading of Newegg Commerce

A number of hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management grew its position in shares of Newegg Commerce by 247.3% in the 4th quarter. Ritholtz Wealth Management now owns 20,160 shares of the company’s stock worth $1,023,000 after buying an additional 14,356 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Newegg Commerce by 234.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after acquiring an additional 20,575 shares during the period. Goldman Sachs Group Inc. bought a new stake in Newegg Commerce during the fourth quarter worth about $490,000. Geode Capital Management LLC boosted its stake in Newegg Commerce by 39.8% during the fourth quarter. Geode Capital Management LLC now owns 17,674 shares of the company’s stock worth $897,000 after acquiring an additional 5,028 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Newegg Commerce in the third quarter worth about $1,343,000. 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.