Newegg Commerce (NASDAQ:NEGG) Sets New 12-Month Low – Here’s What Happened
by Doug Wharley · The Cerbat GemNewegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $13.98 and last traded at $14.15, with a volume of 13928 shares changing hands. The stock had previously closed at $14.94.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.
View Our Latest Research Report on Newegg Commerce
Newegg Commerce Trading Up 1.9%
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. The company’s 50 day moving average is $19.89 and its 200 day moving average is $36.96.
Newegg Commerce (NASDAQ:NEGG – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) 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 Activity
In related news, Director Fred Faching Chang sold 18,539 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total transaction of $370,780.00. Following the transaction, the director owned 3,104,433 shares in the company, valued at $62,088,660. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 220,201 shares of company stock valued at $5,438,310. 22.90% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Newegg Commerce
Institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in Newegg Commerce by 5,472.2% in 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 during the last quarter. Squarepoint Ops LLC purchased a new position in Newegg Commerce during the 4th quarter worth $251,000. Jane Street Group LLC purchased a new position in Newegg Commerce during the 4th quarter worth $2,042,000. O Shaughnessy Asset Management LLC increased its stake in Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after purchasing an additional 20,575 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Newegg Commerce in the fourth quarter valued at $490,000. 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.