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

Key Points

• Director Fred Chang sold 3,582 Newegg shares on October 26 at an average price of $9.49, generating $33,993.18. He retained 2,850,835 shares, and the sale followed a series of similar transactions throughout October.
• Newegg shares traded at $10.31, near their 12-month low of $9.29 and well below the 12-month high of $96.29. The stock’s 50-day and 200-day moving averages were $13.77 and $27.36, respectively.
• The company beat quarterly EPS expectations with $0.11 versus the projected loss of $0.40, but revenue of $320.41 million fell short of the $439.20 million estimate. Weiss Ratings maintained a “sell (D-)” rating, and MarketBeat reported an overall “Sell” consensus.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $9.49, for a total value of $33,993.18. Following the completion of the transaction, the director directly owned 2,850,835 shares in the company, valued at $27,054,424.15. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, October 23rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.85, for a total value of $35,282.70.
• On Wednesday, October 21st, 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 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 value of $38,363.22.
• On Friday, October 16th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 stock was sold at an average price of $10.64, for a total transaction 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 transaction 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 transaction 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 shares were sold at an average price of $11.88, for a total transaction of $42,554.16.

Newegg Commerce Stock Performance

Shares of NEGG stock traded up $0.42 during trading hours on Wednesday, hitting $10.31. The company's stock had a trading volume of 44,686 shares, compared to its average volume of 71,019. Newegg Commerce, Inc. has a 12-month low of $9.29 and a 12-month high of $96.29. The company has a 50 day moving average of $13.77 and a 200 day moving average of $27.36. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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. According to MarketBeat, Newegg Commerce 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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