Newegg Commerce (NASDAQ:NEGG) Director Sells $58,744.80 in Stock

Key Points

• Director Fred Chang sold 3,582 Newegg shares at an average price of $16.40, generating $58,744.80. He still owns 3,073,687 shares, and the sale reduced his position by 0.12%.
• Chang also sold 23,582 shares on September 2 and 3,582 shares on September 1, bringing his recent disclosed sales to 30,746 shares.
• Newegg shares fell 5.4% to $15.60, while the company’s latest earnings beat EPS expectations but missed revenue estimates. MarketBeat reports an average analyst rating of “Sell”.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of Newegg Commerce stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $16.40, for a total transaction of $58,744.80. Following the completion of the transaction, the director owned 3,073,687 shares in the company, valued at approximately $50,408,466.80. This trade represents a 0.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.77, for a total value of $395,470.14.
• 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 Down 5.4%

NASDAQ NEGG traded down $0.88 during trading hours on Friday, hitting $15.60. The company had a trading volume of 60,298 shares, compared to its average volume of 77,551. Newegg Commerce, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $96.29. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average is $15.94 and its 200 day moving average is $26.90.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company's stock worth $51,000 after purchasing an additional 985 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Newegg Commerce in the fourth quarter valued at about $251,000. Jane Street Group LLC acquired a new stake in Newegg Commerce during the fourth quarter valued at approximately $2,042,000. O Shaughnessy Asset Management LLC lifted its holdings in Newegg Commerce by 234.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company's stock worth $1,489,000 after buying an additional 20,575 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Newegg Commerce during the 4th quarter worth approximately $490,000. 0.45% of the stock is owned by institutional investors and hedge funds.

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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