Newegg Commerce (NASDAQ:NEGG) Issues Quarterly Earnings Results

Newegg Commerce (NASDAQ:NEGG) released its earnings results on Thursday. The company reported $999.00 earnings per share for the quarter, Zacks reports.

Newegg Commerce Price Performance

NEGG stock traded down $1.75 during midday trading on Thursday, reaching $16.89. 28,960 shares of the stock were exchanged, compared to its average volume of 76,209. Newegg Commerce has a 52 week low of $4.82 and a 52 week high of $137.84. The company has a fifty day moving average price of $33.80 and a 200 day moving average price of $48.73. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newegg Commerce currently has an average rating of “Sell”.

Insider Activity at Newegg Commerce

In other news, Director Fred Faching Chang sold 10,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $20.14, for a total transaction of $201,400.00. Following the sale, the director directly owned 3,176,646 shares in the company, valued at approximately $63,977,650.44. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 177,854 shares of company stock worth $4,616,778 over the last quarter. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in Newegg Commerce during the 3rd quarter worth $30,000. Royal Bank of Canada raised its position in shares of Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of 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 valued at $175,000 after purchasing an additional 10,675 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce during the third quarter worth approximately $207,000. Finally, Squarepoint Ops LLC acquired a new position in Newegg Commerce in the fourth quarter valued at approximately $251,000. 0.45% of the stock is owned by institutional investors.

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.