Newegg Commerce (NASDAQ:NEGG) Stock Price Down 3.9% – Here’s Why

by · The Cerbat Gem

Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) shares traded down 3.9% during trading on Wednesday . The company traded as low as $75.60 and last traded at $74.8770. 19,671 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 767,380 shares. The stock had previously closed at $77.90.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Get Our Latest Report on Newegg Commerce

Newegg Commerce Price Performance

The business’s fifty day simple moving average is $60.49 and its two-hundred day simple moving average is $43.56. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52.

Hedge Funds Weigh In On Newegg Commerce

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce in the third quarter valued at approximately $30,000. XTX Topco Ltd acquired a new stake in Newegg Commerce in the 3rd quarter valued at $1,343,000. Qube Research & Technologies Ltd purchased a new stake in Newegg Commerce in the 3rd quarter worth $207,000. Millennium Management LLC acquired a new position in Newegg Commerce during the third quarter worth $981,000. Finally, Clear Street Group Inc. acquired a new position in Newegg Commerce during the third quarter worth $856,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Newegg Commerce

(Get Free Report)

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.

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