Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $371,925.00 in Stock

Key Points

• Newegg director Fred Chang sold 28,500 shares at an average price of $13.05, generating $371,925; he retained 2,947,549 shares worth approximately $38.5 million.
• Chang has made multiple additional sales since September 1, indicating a sustained pattern of insider selling as Newegg’s share price declined from roughly $16.77 to $13.05.
• NEGG recently traded at $13.65, near its one-year low of $12.50. Although quarterly EPS beat estimates, revenue fell short of expectations, and the stock carries a consensus “Sell” rating.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 28,500 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $13.05, for a total value of $371,925.00. Following the sale, the director owned 2,947,549 shares of the company's stock, valued at approximately $38,465,514.45. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, September 15th, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.38, for a total transaction of $315,527.16.
• On Monday, September 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $14.49, for a total transaction of $51,903.18.
• On Thursday, September 10th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $14.47, for a total transaction of $51,831.54.
• On Wednesday, September 9th, Fred Chang sold 12,564 shares of Newegg Commerce stock. The stock was sold at an average price of $15.13, for a total transaction of $190,093.32.
• On Tuesday, September 8th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The stock was sold at an average price of $15.18, for a total transaction of $206,174.76.
• On Friday, September 4th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.62, for a total transaction of $212,150.84.
• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.40, for a total value of $58,744.80.
• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.77, for a total value of $395,470.14.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Price Performance

NASDAQ:NEGG traded up $0.62 during mid-day trading on Friday, hitting $13.65. 55,613 shares of the company traded hands, compared to its average volume of 76,556. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. The stock's fifty day moving average price is $15.73 and its 200-day moving average price is $24.48. Newegg Commerce, Inc. has a one year low of $12.50 and a one year high of $96.29.

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

Analyst Ratings Changes

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

Newegg Commerce Company Profile

Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its merchandise includes computer components, laptops, desktop computers, peripherals, networking equipment, software, gaming products, home electronics, appliances and related accessories.

The company serves individual consumers, businesses and technology enthusiasts through its Newegg retail platform and marketplace. In addition to selling products directly, Newegg enables third-party merchants and brands to offer merchandise through its platform and provides services such as fulfillment, advertising and business-to-business purchasing support.

Newegg was founded in 2001 and is headquartered in the City of Industry, California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.