Newegg Commerce (NASDAQ:NEGG) Shares Gap Up – Still a Buy?

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) gapped up before the market opened on Friday . The stock had previously closed at $16.78, but opened at $18.76. Newegg Commerce shares last traded at $18.35, with a volume of 4,387 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Newegg Commerce Stock Up 0.0%

The firm’s 50-day moving average price is $29.12 and its 200-day moving average price is $44.26. The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24.

Newegg Commerce (NASDAQ:NEGG) last released its quarterly earnings data on Thursday, May 28th. The company reported $999.00 earnings per share (EPS) for the quarter.

Insider Activity

In other news, Director Fred Faching Chang sold 18,539 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total value of $370,780.00. Following the completion of the sale, the director owned 3,104,433 shares of the company’s stock, valued at $62,088,660. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 220,134 shares of company stock valued at $5,437,213 over the last ninety days. 22.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newegg Commerce

A number of large investors have recently added to or reduced their stakes in NEGG. NewEdge Advisors LLC acquired a new stake in Newegg Commerce during the 3rd quarter valued at $30,000. Royal Bank of Canada grew its holdings in Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Newegg Commerce during the 4th quarter valued at $251,000. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce during the 3rd quarter valued at $207,000. Finally, Quantum Private Wealth LLC acquired a new stake in Newegg Commerce during the 3rd quarter valued at $210,000. 0.45% of the stock is owned by institutional investors and hedge funds.

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.