Newegg Commerce (NASDAQ:NEGG) Stock: Insider Fred Faching Chang Sells 3,582 Shares

Key Points

• Director Fred Chang sold 3,582 Newegg shares for $38,112.48 at an average price of $10.64, reducing his position by 0.13% to 2.86 million shares. The sale was part of a series of similar transactions dating back to September 28.
• Newegg shares fell to $9.94, matching the stock’s 12-month low, and remained well below their 50-day and 200-day moving averages of $14.43 and $19.65, respectively.
• Analyst sentiment remains negative, with Weiss Ratings maintaining a “sell (D-)” rating and the stock carrying an overall “Sell” consensus. Newegg’s latest quarterly results beat EPS estimates, but revenue of $320.41 million missed expectations of $439.20 million.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $10.64, for a total transaction of $38,112.48. Following the completion of the sale, the director directly owned 2,861,581 shares of the company's stock, valued at approximately $30,447,221.84. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 value of $39,867.66.
• On Wednesday, October 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 shares were 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 stock was 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 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.
• 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.

Newegg Commerce Stock Performance

Shares of NEGG traded down $0.62 during trading on Thursday, reaching $9.94. 47,517 shares of the company traded hands, compared to its average volume of 71,853. The stock has a 50-day simple moving average of $14.43 and a 200-day simple moving average of $19.65. Newegg Commerce, Inc. has a twelve month low of $9.94 and a twelve month high of $96.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64.

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

Analyst Upgrades and Downgrades

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

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