Newegg Commerce (NASDAQ:NEGG) Director Sells $34,996.14 in Stock

Key Points

• Director Fred Chang sold 3,582 Newegg shares for $34,996.14 at an average price of $9.77, leaving him with 2,836,507 shares valued at about $27.7 million.
• The sale was part of a series of repeated 3,582-share disposals reported in October and November, with sale prices generally declining from $11.63 to around $9.92.
• Newegg shares traded at $9.19, near their 52-week low of $9.14, and the article reports a consensus analyst rating of “Sell.”

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the company's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $9.77, for a total transaction of $34,996.14. Following the transaction, the director owned 2,836,507 shares in the company, valued at approximately $27,712,673.39. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $9.92, for a total value of $35,533.44.
• 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 stock was 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 stock was 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 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 value 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 stock was sold at an average price of $11.30, for a total value of $40,476.60.
• On Friday, October 9th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.63, for a total value of $41,658.66.

Newegg Commerce Stock Performance

NEGG traded down $0.52 during trading hours on Tuesday, reaching $9.19. 37,553 shares of the stock traded hands, compared to its average volume of 70,240. The firm's fifty day simple moving average is $13.11 and its two-hundred day simple moving average is $26.54. 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 fifty-two week low of $9.14 and a fifty-two week high of $96.29.

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

Analyst Ratings Changes

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