Newegg Commerce (NASDAQ:NEGG) Sees Large Volume Increase – What’s Next?
by Doug Wharley · The Cerbat GemNewegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) saw strong trading volume on Monday . 149,351 shares changed hands during trading, an increase of 93% from the previous session’s volume of 77,375 shares.The stock last traded at $19.8670 and had previously closed at $18.57.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on Newegg Commerce
Newegg Commerce Stock Performance
The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $33.05 and its 200 day simple moving average is $47.70.
Newegg Commerce (NASDAQ:NEGG – Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $999.00 earnings per share for the quarter.
Insider Activity
In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the director owned 3,414,433 shares of the company’s stock, valued at approximately $117,900,371.49. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 177,854 shares of company stock valued at $4,616,778 over the last three months. Company insiders own 22.90% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in NEGG. NewEdge Advisors LLC acquired a new stake in shares of Newegg Commerce in the third quarter worth $30,000. Royal Bank of Canada increased its stake in shares of Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares during the period. Bank of America Corp DE increased its stake in shares of 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 worth $175,000 after acquiring an additional 10,675 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Newegg Commerce in the third quarter worth $207,000. Finally, Quantum Private Wealth LLC acquired a new stake in shares of Newegg Commerce in the third quarter worth $210,000. Hedge funds and other 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.