Newegg Commerce (NASDAQ:NEGG) Releases Quarterly Earnings Results

Key Points

• Newegg Commerce reported adjusted earnings of $0.11 per share, beating the consensus estimate of a $0.40 loss, but quarterly revenue of $320.41 million fell well short of the $439.20 million forecast.
• Shares declined $0.33 to $17.68 during Thursday trading. The stock remains well below its 52-week high of $96.29, while insiders have sold more than $643,000 worth of shares over the past 90 days.
• Analyst sentiment remains bearish: the sole covering analyst rates Newegg Commerce “Sell,” matching the stock’s overall MarketBeat consensus rating.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.51, FiscalAI reports. The firm had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Newegg Commerce Stock Performance

Shares of NASDAQ NEGG traded down $0.33 during midday trading on Thursday, reaching $17.68. The company had a trading volume of 32,056 shares, compared to its average volume of 78,258. Newegg Commerce has a 1 year low of $12.50 and a 1 year high of $96.29. The business's 50-day simple moving average is $15.99 and its 200 day simple moving average is $28.37. The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling at Newegg Commerce

In related news, Director Fred Faching Chang sold 18,539 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total value of $370,780.00. Following the transaction, the director directly owned 3,104,433 shares of the company's stock, valued at $62,088,660. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 32,414 shares of company stock worth $643,286 over the last 90 days. 22.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company's stock valued at $51,000 after buying an additional 985 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Newegg Commerce during the 4th quarter worth approximately $251,000. Jane Street Group LLC acquired a new stake in Newegg Commerce during the 4th quarter valued at approximately $2,042,000. O Shaughnessy Asset Management LLC lifted its stake in Newegg Commerce by 234.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company's stock valued at $1,489,000 after acquiring an additional 20,575 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Newegg Commerce in the 4th quarter valued at $490,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Newegg Commerce from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of "Sell".

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.

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