Newegg Commerce (NASDAQ:NEGG) Director Sells $56,846.34 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 3,582 shares of Newegg Commerce stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.87, for a total transaction of $56,846.34. Following the completion of the sale, the director directly owned 3,100,851 shares of the company’s stock, valued at approximately $49,210,505.37. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.40, for a total transaction of $58,744.80.
• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.77, for a total value of $395,470.14.

Newegg Commerce Stock Down 5.4%

Newegg Commerce stock traded down $0.88 during midday trading on Friday, reaching $15.60. The stock had a trading volume of 60,298 shares, compared to its average volume of 77,551. The company has a fifty day moving average price of $15.94 and a two-hundred day moving average price of $26.90. Newegg Commerce, Inc. has a 12 month low of $12.50 and a 12 month high of $96.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55.

Newegg Commerce (NASDAQ:NEGG) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.51. The firm had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Newegg Commerce during the second quarter worth about $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 valued at $175,000 after buying an additional 10,675 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Newegg Commerce during the 3rd quarter worth approximately $1,603,000. UBS Group AG lifted its position in shares of Newegg Commerce by 242.0% during the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after buying an additional 53,411 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Newegg Commerce in the 3rd quarter worth approximately $981,000. 0.45% of the stock is owned by institutional investors.

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 report on Monday, July 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.