Newegg Commerce (NASDAQ:NEGG) Trading Down 6.9% – Here’s What Happened

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) traded down 6.9% during mid-day trading on Friday . The company traded as low as $44.23 and last traded at $44.46. 39,955 shares were traded during trading, a decline of 26% from the average session volume of 53,902 shares. The stock had previously closed at $47.73.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Newegg Commerce Price Performance

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 stock’s fifty day simple moving average is $51.17 and its 200-day simple moving average is $58.97.

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in Newegg Commerce during the third quarter worth $30,000. Royal Bank of Canada increased its position in shares of Newegg Commerce by 5,472.2% in the fourth 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 in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Newegg Commerce in the fourth quarter valued at $251,000. Qube Research & Technologies Ltd acquired a new position in shares of Newegg Commerce during the 3rd quarter worth $207,000. Finally, Quantum Private Wealth LLC purchased a new stake in shares of Newegg Commerce in the 3rd quarter worth about $210,000. 0.45% of the stock is owned by institutional investors and hedge funds.

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.