Newegg Commerce (NASDAQ:NEGG) Director Sells $395,470.14 in Stock

Key Points

• Director Fred Chang sold 23,582 Newegg shares at an average price of $16.77, generating $395,470.14. He retained 3,077,269 shares valued at approximately $51.6 million.
• Newegg shares fell $0.88 to $15.60, trading below both their 50-day moving average of $15.94 and 200-day average of $26.90. The stock’s one-year range is $12.50 to $96.29.
• Newegg reported quarterly earnings of $0.11 per share, beating the expected loss of $0.40, but revenue of $320.41 million missed the $439.20 million consensus estimate. The stock maintains a consensus “Sell” rating.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 23,582 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $16.77, for a total transaction of $395,470.14. Following the completion of the sale, the director owned 3,077,269 shares in the company, valued at approximately $51,605,801.13. The trade was a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction of $58,744.80.
• 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 transaction of $56,846.34.

Newegg Commerce Stock Performance

Shares of NASDAQ:NEGG traded down $0.88 on Friday, hitting $15.60. 60,298 shares of the company were exchanged, compared to its average volume of 77,551. The company's 50 day moving average price is $15.94 and its two-hundred day moving average price is $26.90. 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 one year low of $12.50 and a one year high of $96.29.

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, beating the consensus estimate of ($0.40) by $0.51. The company had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Newegg Commerce

Several institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its holdings in shares of Newegg Commerce by 234.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company's stock worth $1,489,000 after purchasing an additional 20,575 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Newegg Commerce by 39.8% during the 4th quarter. Geode Capital Management LLC now owns 17,674 shares of the company's stock valued at $897,000 after purchasing an additional 5,028 shares during the last quarter. XTX Topco Ltd acquired a new position in Newegg Commerce in the third quarter valued at about $1,343,000. Millennium Management LLC acquired a new position in Newegg Commerce in the third quarter valued at about $981,000. Finally, Bank of America Corp DE grew its stake in Newegg Commerce by 115.9% during the third quarter. Bank of America Corp DE now owns 23,262 shares of the company's stock worth $976,000 after buying an additional 12,487 shares during the last quarter. Institutional investors and hedge funds own 0.45% of the company's stock.

About Newegg Commerce

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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