Newegg Commerce (NASDAQ:NEGG) Reaches New 12-Month Low – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares hit a new 52-week low on Tuesday . The company traded as low as $13.50 and last traded at $13.87, with a volume of 50711 shares traded. The stock had previously closed at $14.15.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Newegg Commerce Stock Performance

The company’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $35.80. The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.38. The company had revenue of $374.40 million for the quarter, compared to analyst estimates of $439.20 million.

Insider Buying and Selling at Newegg Commerce

In related news, Director Fred Faching Chang sold 20,000 shares of Newegg Commerce stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. Following the transaction, the director owned 3,414,433 shares in the company, valued at approximately $117,900,371.49. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 220,201 shares of company stock valued at $5,438,310. Company insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce during the 3rd quarter worth about $30,000. Royal Bank of Canada raised its holdings in Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after buying an additional 985 shares during the period. Bank of America Corp DE lifted its position in Newegg Commerce by 10,675.0% during the second 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 in the last quarter. Qube Research & Technologies Ltd acquired a new position in Newegg Commerce during the third quarter valued at approximately $207,000. Finally, Squarepoint Ops LLC purchased a new stake in Newegg Commerce during the fourth quarter worth approximately $251,000. 0.45% of the stock is currently 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.