Newegg Commerce (NASDAQ:NEGG) Director Sells $39,867.66 in Stock

Key Points

• Director Fred Chang sold 3,582 Newegg shares at an average price of $11.13, generating $39,867.66. He retained 2.87 million shares valued at approximately $32.0 million.
• Chang has conducted a series of identical 3,582-share sales since late September, indicating repeated insider selling as the stock price declined from $13.66 to $10.71.
• Newegg shares recently traded at $10.82, near their one-year low of $10.34, while analysts maintained a consensus “Sell” rating. The company beat quarterly EPS estimates but reported revenue below expectations.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $11.13, for a total value of $39,867.66. Following the completion of the transaction, the director directly owned 2,872,327 shares in the company, valued at approximately $31,968,999.51. This trade represents a 0.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $38,363.22.
• 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 value 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 shares were sold at an average price of $11.63, for a total value of $41,658.66.
• On Wednesday, October 7th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was 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.
• On Friday, October 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 shares were sold at an average price of $13.18, for a total transaction of $47,210.76.
• On Monday, September 28th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.13, for a total transaction of $47,031.66.
• On Friday, September 25th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.66, for a total transaction of $48,930.12.

Newegg Commerce Trading Up 1.9%

Shares of NASDAQ NEGG traded up $0.20 during midday trading on Tuesday, reaching $10.82. 27,964 shares of the company's stock traded hands, compared to its average volume of 72,215. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. The stock's 50 day simple moving average is $14.78 and its 200-day simple moving average is $20.04. Newegg Commerce, Inc. has a one year low of $10.34 and a one year high of $96.29.

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

Analysts Set New Price Targets

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

Newegg Commerce Company Profile

Newegg Commerce, Inc is an online retailer and marketplace specializing in technology products and consumer electronics. Its product categories include computer components and peripherals, desktop and notebook computers, gaming products, mobile devices, networking equipment, home electronics, appliances, and related accessories. The company serves individual consumers, businesses, technology enthusiasts, and professional system builders.

In addition to selling products directly, Newegg operates a third-party marketplace that allows other merchants and brands to offer products through its platform.

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