Newegg Commerce (NASDAQ:NEGG) Stock Price Down 8.1% - Should You Sell?

Key Points

• Newegg Commerce, Inc. (NASDAQ:NEGG) saw a significant stock price decline of 8.1% during trading, closing at $49.37 after hitting a low of $48.17.
• Weiss Ratings has reiterated a "sell" rating on Newegg Commerce, reflecting a consensus rating of "Sell" among analysts.
• Insider transactions included major shareholder Vladimir Galkin acquiring 416,799 shares, increasing his ownership in the company by 15%.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) fell 8.1% during trading on Tuesday . The stock traded as low as $48.17 and last traded at $49.37. 240,457 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 758,608 shares. The stock had previously closed at $53.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Newegg Commerce in a report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell".

Newegg Commerce Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 0.52. The firm's fifty day moving average is $58.71 and its two-hundred day moving average is $27.38.

Insiders Place Their Bets

In related news, major shareholder Vladimir Galkin acquired 416,799 shares of the company's stock in a transaction on Thursday, July 17th. The shares were purchased at an average price of $29.68 per share, for a total transaction of $12,370,594.32. Following the purchase, the insider owned 3,194,576 shares in the company, valued at $94,815,015.68. This represents a 15.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 1,069,031 shares of company stock valued at $36,363,069. 22.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce in the fourth quarter worth $44,000. XTX Topco Ltd acquired a new stake in shares of Newegg Commerce in the first quarter valued at $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Newegg Commerce in the second quarter valued at $64,000. Squarepoint Ops LLC acquired a new stake in shares of Newegg Commerce in the fourth quarter valued at $69,000. Finally, Bank of America Corp DE lifted its position in Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock valued at $175,000 after purchasing an additional 10,675 shares during the period. Institutional investors and hedge funds own 0.45% of the company's stock.

About Newegg Commerce

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.

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