Newegg Commerce (NASDAQ:NEGG) Trading 8.1% Higher - Still a Buy?

Key Points

• Newegg Commerce shares rose 8.1% to $18.50 in Monday trading, although volume was 44% below the average session level.
• MarketBeat reports an overall “Sell” rating for the stock, with Weiss Ratings recently upgrading its rating from “sell (e+)” to “sell (d-).”
• Insiders have been net sellers, including a director’s sale of 20,000 shares, while institutional ownership remains limited at 0.45%; company insiders own 22.9% of outstanding shares.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares shot up 8.1% on Monday . The stock traded as high as $18.62 and last traded at $18.5040. 44,210 shares were traded during mid-day trading, a decline of 44% from the average session volume of 79,625 shares. The stock had previously closed at $17.12.

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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Newegg Commerce Price Performance

The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average price of $15.91 and a 200-day moving average price of $31.27.

Insider Transactions at Newegg Commerce

In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $19.40, for a total transaction of $388,000.00. Following the completion of the transaction, the director directly owned 3,186,646 shares of the company's stock, valued at approximately $61,820,932.40. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 132,414 shares of company stock worth $2,728,586. Company insiders own 22.90% of the company's stock.

Institutional Trading of Newegg Commerce

Large investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings 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 purchased a new stake in Newegg Commerce in the fourth quarter valued at $251,000. Jane Street Group LLC acquired a new stake in Newegg Commerce during the 4th quarter worth about $2,042,000. O Shaughnessy Asset Management LLC grew its position 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 purchasing an additional 20,575 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Newegg Commerce during the 4th quarter valued at about $490,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

Newegg Commerce Company Profile

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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