Newegg Commerce (NASDAQ:NEGG) Shares Gap Up – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $54.72, but opened at $56.79. Newegg Commerce shares last traded at $53.50, with a volume of 14,843 shares traded.

Wall Street Analyst Weigh In

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

Newegg Commerce Price Performance

The stock has a 50 day simple moving average of $68.60 and a 200-day simple moving average of $52.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in Newegg Commerce in the 3rd quarter valued at approximately $30,000. FNY Investment Advisers LLC purchased a new stake in shares of Newegg Commerce during the second quarter valued at $64,000. Qube Research & Technologies Ltd bought a new stake in Newegg Commerce in the 3rd quarter worth about $207,000. Quantum Private Wealth LLC purchased a new position in Newegg Commerce in the 3rd quarter worth about $210,000. Finally, Ritholtz Wealth Management purchased a new position in Newegg Commerce in the 3rd quarter worth about $243,000. 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.