Fred Faching Chang Sells 20,000 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $19.66, for a total transaction of $393,200.00. Following the sale, the director owned 3,246,646 shares of the company’s stock, valued at approximately $63,829,060.36. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Fred Faching Chang also recently made the following trade(s):

• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total transaction of $450,400.00.
• On Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $23.66, for a total transaction of $473,200.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The stock was sold at an average price of $25.41, for a total transaction of $176,447.04.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $26.25, for a total transaction of $525,000.00.
• On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The stock was sold at an average price of $30.25, for a total transaction of $196,110.75.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The stock was sold at an average price of $32.29, for a total transaction of $22,699.87.
• On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The stock was sold at an average price of $30.10, for a total transaction of $110,075.70.
• On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $31.88, for a total transaction of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total transaction of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Trading Down 1.8%

Shares of Newegg Commerce stock opened at $20.21 on Friday. Newegg Commerce, Inc. has a twelve month low of $4.70 and a twelve month high of $137.84. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $35.57 and a two-hundred day simple moving average of $50.53.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.38. The business had revenue of $374.40 million during the quarter, compared to analyst estimates of $439.20 million.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Key Headlines Impacting Newegg Commerce

Here are the key news stories impacting Newegg Commerce this week:

• Negative Sentiment: Director Fred Faching Chang disclosed multiple share sales between May 4 and May 18, including a 20,000-share sale on May 18 and several other sales earlier in the month. The repeated insider selling may be viewed as a bearish signal for Newegg Commerce. SEC filing
• Neutral Sentiment: Chang still holds a very large stake in Newegg Commerce, so despite the recent selling, he remains heavily invested in the company. SEC filing
• Neutral Sentiment: Newegg recently reported quarterly EPS of -$0.02, beating expectations, but revenue came in below consensus. That mixed earnings result may be limiting any upside response from investors. MarketBeat earnings summary
• Neutral Sentiment: Weiss Ratings recently changed its view on Newegg Commerce from “sell (e+)” to “sell (d-)”, which is still a bearish rating but slightly less negative than before. Weiss Ratings

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in NEGG. Marshall Wace LLP acquired a new position in shares of Newegg Commerce in the 2nd quarter valued at approximately $4,281,000. UBS Group AG raised its position in shares of Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after buying an additional 53,411 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Newegg Commerce in the 3rd quarter valued at approximately $1,762,000. Jane Street Group LLC acquired a new position in shares of Newegg Commerce in the 4th quarter valued at approximately $2,042,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Newegg Commerce in the 3rd quarter valued at approximately $1,603,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

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.