Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 13,582 Shares

Key Points

• Director Fred Chang sold 13,582 Newegg shares for approximately $212,151 at an average price of $15.62, reducing his direct ownership by 0.44% to 3.06 million shares. He also reported three additional sales earlier in the week.
• Newegg shares traded at $15.17, near the lower end of their 52-week range of $12.50 to $96.29, with the 200-day moving average at $26.43.
• The company’s latest quarterly earnings beat expectations with adjusted EPS of $0.11 versus a consensus loss estimate of $0.40, but revenue of $320.41 million fell short of the $439.20 million forecast. Analysts maintain a consensus Sell rating.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 13,582 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $15.62, for a total value of $212,150.84. Following the sale, the director directly owned 3,060,105 shares of the company's stock, valued at approximately $47,798,840.10. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 stock was sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Stock Performance

NEGG stock traded down $0.15 during mid-day trading on Tuesday, reaching $15.17. 59,065 shares of the stock traded hands, compared to its average volume of 77,668. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. Newegg Commerce, Inc. has a 52-week low of $12.50 and a 52-week high of $96.29. The stock's fifty day moving average is $15.88 and its 200-day moving average is $26.43.

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

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors and hedge funds have recently bought and sold shares of NEGG. NewEdge Advisors LLC acquired a new position in shares of Newegg Commerce in the 3rd quarter valued at about $30,000. Royal Bank of Canada boosted its holdings in shares of Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company's stock worth $51,000 after purchasing an additional 985 shares during the period. Squarepoint Ops LLC purchased a new position in Newegg Commerce during the fourth quarter valued at approximately $251,000. Qube Research & Technologies Ltd acquired a new position in Newegg Commerce in the 3rd quarter valued at approximately $207,000. Finally, Goldman Sachs Group Inc. acquired a new position in Newegg Commerce in the 4th quarter valued at approximately $490,000. Hedge funds and other institutional investors own 0.45% of the company's stock.

Analysts Set New Price Targets

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

Newegg Commerce Company Profile

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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