Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 3,582 Shares of Stock

Key Points

• Newegg Commerce director Fred Chang sold 3,582 shares at an average price of $9.78, generating $35,031.96. He retained 2,843,671 shares valued at approximately $27.8 million.
• Chang has made a series of identical 3,582-share sales throughout October, with sale prices generally declining from $11.83 on October 7 to $9.78 on October 28.
• NEGG shares rose 0.6% to $9.84 but remain near their 12-month low of $9.29; analysts maintain a consensus “Sell” rating, despite the company beating quarterly EPS estimates.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of Newegg Commerce stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $9.78, for a total value of $35,031.96. Following the sale, the director owned 2,843,671 shares in the company, valued at $27,811,102.38. This 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 available through the SEC website.

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

• 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 value 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 value 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 shares were 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 shares were sold at an average price of $11.30, for a total transaction of $40,476.60.
• On Friday, October 9th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $11.63, for a total transaction of $41,658.66.
• On Wednesday, October 7th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $11.83, for a total transaction of $42,375.06.
• On Monday, October 5th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.82, for a total transaction of $42,339.24.

Newegg Commerce Stock Up 0.6%

NEGG stock traded up $0.06 during mid-day trading on Friday, hitting $9.84. 33,238 shares of the company were exchanged, compared to its average volume of 32,286. The firm has a fifty day simple moving average of $13.28 and a 200 day simple moving average of $26.76. Newegg Commerce, Inc. has a twelve month low of $9.29 and a twelve month high of $96.29. 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 (NASDAQ:NEGG - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.51. The company had revenue of $320.41 million during the quarter, compared to analyst estimates 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 analyst has rated the stock with a Sell rating. According to data from MarketBeat, Newegg Commerce 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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