Newegg Commerce (NASDAQ:NEGG) Stock Price Up 5.8% – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price shot up 5.8% on Friday . The stock traded as high as $49.50 and last traded at $49.0340. 26,360 shares traded hands during trading, a decline of 74% from the average session volume of 102,693 shares. The stock had previously closed at $46.33.

Analyst Upgrades and Downgrades

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

Newegg Commerce Trading Up 5.0%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52. The firm’s fifty day moving average price is $60.26 and its 200 day moving average price is $57.43.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEGG. FNY Investment Advisers LLC bought a new stake in shares of Newegg Commerce in the second quarter worth about $64,000. Marshall Wace LLP purchased a new position in Newegg Commerce during the 2nd quarter valued at approximately $4,281,000. Bank of America Corp DE increased its stake in 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 worth $175,000 after acquiring an additional 10,675 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Newegg Commerce during the 3rd quarter worth approximately $243,000. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Newegg Commerce during the 3rd quarter valued at approximately $1,762,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Newegg Commerce

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.