Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $31,951.44 in Stock

Key Points

• Newegg director Fred Chang sold 3,582 shares for $31,951 at an average price of $8.92, leaving him with 2,815,015 shares worth about $25.1 million.
• The sale is part of a series of repeated sales: Chang sold the same number of shares in each of 10 other listed transactions from October 14 through November 4.
• Newegg shares traded at $8.88, close to their 12-month low of $8.26; the article reports an average analyst rating of Sell. The latest reported quarter beat EPS expectations but revenue fell short of estimates.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $8.92, for a total value of $31,951.44. Following the transaction, the director directly owned 2,815,015 shares in the company, valued at $25,109,933.80. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fred Faching Chang also recently made the following trade(s):

• On Wednesday, November 4th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.73, for a total value of $34,852.86.
• On Monday, November 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.92, for a total value of $35,533.44.
• On Friday, October 30th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.77, for a total transaction of $34,996.14.
• On Wednesday, October 28th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.78, for a total transaction of $35,031.96.
• On Monday, October 26th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.49, for a total transaction of $33,993.18.
• On Friday, October 23rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.85, for a total transaction of $35,282.70.
• On Wednesday, October 21st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $10.64, for a total transaction of $38,112.48.
• On Monday, October 19th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $10.71, for a total transaction of $38,363.22.
• On Friday, October 16th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.13, for a total transaction of $39,867.66.
• On Wednesday, October 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $10.64, for a total value of $38,112.48.

Newegg Commerce Stock Performance

Shares of NASDAQ:NEGG traded up $0.40 during trading on Thursday, reaching $8.88. 14,221 shares of the stock were exchanged, compared to its average volume of 69,263. Newegg Commerce, Inc. has a 12 month low of $8.26 and a 12 month high of $91.74. The stock has a 50-day moving average price of $11.97 and a 200-day moving average price of $25.06. The company has a current ratio of 1.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.51. The firm had revenue of $320.41 million for the quarter, compared to the consensus estimate of $439.20 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Newegg Commerce in a research report on Friday, October 9th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Newegg Commerce currently has an average rating of "Sell".

Newegg Commerce Company Profile

Newegg Commerce, Inc. operates Newegg, an online retailer specializing in computer hardware, consumer electronics and related technology products. Its offerings include computer components, laptops, gaming products, peripherals, networking equipment and other consumer goods. The company also serves third-party sellers through its online marketplace and provides services such as product fulfillment and advertising. Newegg was founded in 2001 and built its reputation among technology enthusiasts and PC builders.

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