Newegg Commerce (NASDAQ:NEGG) Posts Earnings Results, Beats Expectations By $0.51 EPS

Newegg Commerce (NASDAQ:NEGG) announced its earnings results on Thursday. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51, FiscalAI reports. The business had revenue of $320.41 million during the quarter, compared to analysts’ expectations of $439.20 million.

Newegg Commerce Trading Down 1.8%

NEGG stock opened at $17.68 on Friday. The company has a fifty day moving average of $15.99 and a 200-day moving average of $28.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. Newegg Commerce has a one year low of $12.50 and a one year high of $96.29.

Analyst Ratings Changes

Separately, Weiss Ratings raised Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Newegg Commerce currently has an average rating of “Sell”.

Insider Activity

In other news, Director Fred Faching Chang sold 18,539 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total transaction of $370,780.00. Following the transaction, the director directly owned 3,104,433 shares in the company, valued at $62,088,660. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 32,414 shares of company stock worth $643,286 in the last quarter. Insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in shares of Newegg Commerce in the 2nd quarter valued at approximately $4,281,000. UBS Group AG grew its holdings in Newegg Commerce by 242.0% during the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after acquiring an additional 53,411 shares during the period. Jane Street Group LLC acquired a new position in Newegg Commerce during the fourth quarter worth $2,042,000. BNP Paribas Financial Markets purchased a new position in Newegg Commerce in the third quarter worth $1,603,000. Finally, XTX Topco Ltd purchased a new position in Newegg Commerce in the third quarter worth $1,343,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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.