Newegg Commerce (NASDAQ:NEGG) Hits New 12-Month Low – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $12.81 and last traded at $13.3610, with a volume of 59021 shares trading hands. The stock had previously closed at $12.99.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of 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, According to data from MarketBeat, Newegg Commerce presently has an average rating of “Sell”.

Newegg Commerce Stock Up 5.9%

The business has a 50 day moving average of $17.30 and a 200 day moving average of $34.72. 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 (NASDAQ:NEGG) last released its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.38. The company had revenue of $374.40 million during the quarter, compared to analyst estimates of $439.20 million.

Insider Transactions at Newegg Commerce

In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $34.53, for a total value of $690,600.00. Following the completion of the sale, the director owned 3,414,433 shares of the company’s stock, valued at approximately $117,900,371.49. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 220,201 shares of company stock worth $5,438,310 in the last ninety days. 22.90% of the stock is currently owned by insiders.

Institutional Trading of Newegg Commerce

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Newegg Commerce during the 2nd quarter worth $4,281,000. Bank of America Corp DE grew its stake in Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after acquiring an additional 10,675 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Newegg Commerce in the third quarter worth about $1,603,000. UBS Group AG increased its holdings in shares of Newegg Commerce by 242.0% in 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 in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Newegg Commerce during the third quarter worth about $981,000. 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.