Newegg Commerce (NASDAQ:NEGG) Trading Down 9.3% – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG) traded down 9.3% during trading on Friday . The stock traded as low as $27.08 and last traded at $26.4950. 24,833 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 72,015 shares. The stock had previously closed at $29.21.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Newegg Commerce Trading Down 11.2%

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 stock’s 50-day simple moving average is $39.97 and its 200-day simple moving average is $53.39.

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

Insider Activity at Newegg Commerce

In other news, Director Fred Faching Chang sold 15,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $33.94, for a total transaction of $509,100.00. Following the sale, the director owned 3,399,433 shares in the company, valued at approximately $115,376,756.02. The trade was a 0.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 35,067 shares of company stock worth $1,202,045. Insiders own 22.90% of the company’s stock.

Institutional Trading of Newegg Commerce

A number of hedge funds have recently modified their holdings of NEGG. Marshall Wace LLP bought a new stake in shares of Newegg Commerce during the 2nd quarter valued at $4,281,000. UBS Group AG boosted its holdings 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 valued at $3,166,000 after buying an additional 53,411 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Newegg Commerce in the 3rd quarter worth about $1,762,000. Jane Street Group LLC bought a new position in Newegg Commerce in the 4th quarter worth about $2,042,000. Finally, BNP Paribas Financial Markets bought a new position in Newegg Commerce in the 3rd quarter worth about $1,603,000. Institutional investors own 0.45% of the company’s stock.

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.