Newegg Commerce (NASDAQ:NEGG) Director Sells $42,339.24 in Stock

Key Points

• Director Fred Chang sold 3,582 Newegg shares at an average price of $11.82, generating $42,339.24. He retained 2.9 million shares worth approximately $34.3 million.
• Chang has made a series of insider sales since mid-September, including larger transactions of 28,500 shares and 23,582 shares, as Newegg’s stock price declined.
• NEGG traded near $11.91, close to its 12-month low of $11.10. The company beat quarterly EPS expectations but missed revenue estimates, while its sole tracked analyst maintained a Sell rating.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the business's stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $11.82, for a total transaction of $42,339.24. Following the completion of the sale, the director owned 2,904,565 shares of the company's stock, valued at approximately $34,331,958.30. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 stock was 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 stock was 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.
• On Wednesday, September 23rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $14.31, for a total transaction of $51,258.42.
• On Friday, September 18th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.54, for a total value of $48,500.28.
• On Monday, September 21st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.79, for a total value of $49,395.78.
• On Thursday, September 17th, Fred Chang sold 28,500 shares of Newegg Commerce stock. The stock was sold at an average price of $13.05, for a total value of $371,925.00.
• On Tuesday, September 15th, Fred Chang sold 23,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.38, for a total value of $315,527.16.
• On Monday, September 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $14.49, for a total value of $51,903.18.

Newegg Commerce Price Performance

NEGG traded down $0.03 on Tuesday, hitting $11.91. 29,307 shares of the company were exchanged, compared to its average volume of 74,404. 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 firm has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $22.04. Newegg Commerce, Inc. has a 12 month low of $11.10 and a 12 month 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 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.51. The firm had revenue of $320.41 million for the quarter, compared to the consensus estimate of $439.20 million.

Analysts Set New Price Targets

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

About Newegg Commerce

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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