Newegg Commerce (NASDAQ:NEGG) Stock Price Down 9% Following Insider Selling

by · The Cerbat Gem

Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) dropped 9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $17.18 and last traded at $16.9650. Approximately 13,283 shares were traded during trading, a decline of 83% from the average daily volume of 76,078 shares. The stock had previously closed at $18.64.

Specifically, Director Fred Faching Chang sold 10,000 shares of Newegg Commerce stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $20.14, for a total transaction of $201,400.00. Following the sale, the director owned 3,176,646 shares in the company, valued at approximately $63,977,650.44. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $19.40, for a total value of $388,000.00. Following the completion of the sale, the director directly owned 3,186,646 shares of the company’s stock, valued at approximately $61,820,932.40. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newegg Commerce presently has a consensus rating of “Sell”.

Get Our Latest Research Report on Newegg Commerce

Newegg Commerce Trading Down 8.4%

The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $48.73.

Newegg Commerce (NASDAQ:NEGG – Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $999.00 earnings per share for the quarter.

Institutional Trading of Newegg Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new stake in Newegg Commerce during the 3rd quarter worth approximately $30,000. Royal Bank of Canada raised its stake in shares of Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after purchasing an additional 985 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $175,000 after purchasing an additional 10,675 shares during the period. Qube Research & Technologies Ltd purchased a new position in Newegg Commerce in the 3rd quarter valued at $207,000. Finally, Quantum Private Wealth LLC acquired a new position in Newegg Commerce in the 3rd quarter valued at $210,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

About Newegg Commerce

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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.

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