Newegg Commerce (NASDAQ:NEGG) Director Sells 3,582 Shares of Company Stock

Key Points

• Newegg Commerce director Fred Chang sold 3,582 shares at an average price of $9.85, generating $35,282.70; he retained 2,854,417 shares valued at approximately $28.1 million.
• The sale continues a series of recurring insider sales by Chang dating back to September 30, with sale prices declining from $13.18 to $9.85.
• NEGG traded near $9.89, close to its 52-week low of $9.29, while analysts maintained a bearish view: Weiss Ratings reiterated a “sell” rating and MarketBeat reported an average rating of “Sell.”

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the firm's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $9.85, for a total value of $35,282.70. Following the completion of the sale, the director directly owned 2,854,417 shares of the company's stock, valued at $28,116,007.45. The trade was a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 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 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 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 shares were sold at an average price of $11.82, for a total transaction of $42,339.24.
• On Friday, October 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.88, for a total transaction of $42,554.16.
• On Wednesday, September 30th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.18, for a total transaction of $47,210.76.

Newegg Commerce Price Performance

NEGG traded up $0.42 on Tuesday, hitting $9.89. The company had a trading volume of 17,040 shares, compared to its average volume of 71,146. The stock has a fifty day simple moving average of $13.95 and a 200-day simple moving average of $27.56. 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 52-week low of $9.29 and a 52-week high of $96.29.

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

Analyst Ratings Changes

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

Newegg Commerce Company Profile

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.

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.