Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $34,852.86 in Stock

Key Points

• Newegg director Fred Chang sold 3,582 shares for $34,852.86 at an average price of $9.73, reducing his stake by 0.13%; he retained about 2.83 million shares.
• Chang had also sold the same number of shares in multiple transactions dating back to October 12. Newegg shares fell 6.5% on Thursday to $9.25, and the article reports a consensus analyst rating of “Sell.”
• Newegg reported quarterly EPS of $0.11, above estimates of a $0.40 loss, while revenue of $320.41 million fell short of the $439.20 million estimate.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the business's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $9.73, for a total value of $34,852.86. Following the completion of the transaction, the director directly owned 2,825,761 shares of the company's stock, valued at approximately $27,494,654.53. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $9.77, for a total value 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 value 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 shares were 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 shares were 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 transaction of $38,112.48.
• On Monday, October 12th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.30, for a total transaction of $40,476.60.

Newegg Commerce Trading Down 6.5%

Shares of NASDAQ:NEGG traded down $0.64 during trading on Thursday, reaching $9.25. The stock had a trading volume of 47,024 shares, compared to its average volume of 30,679. The business has a fifty day moving average price of $12.60 and a 200-day moving average price of $25.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. Newegg Commerce, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $96.29.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $439.20 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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, the company presently has a consensus rating of "Sell".

About Newegg Commerce

Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its offerings include desktop and laptop computers, computer components, peripherals, networking equipment, software, gaming products, mobile devices, home electronics and selected appliances. The company sells products directly and provides a marketplace through which third-party merchants can offer products to customers.

In addition to its retail operations, Newegg provides services for businesses and marketplace sellers, including fulfillment, logistics, advertising, product listing and other e-commerce support solutions.

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