Newegg Commerce (NASDAQ:NEGG) Trading Down 9.9% - Should You Sell?

Key Points

• Newegg Commerce shares fell by 9.9% during trading, closing at $45.22, which reflects a significant decline in trading volume by 72% from the average session.
• Weiss Ratings reiterated a "sell" rating for Newegg, contributing to the stock's overall average rating of "Sell".
• Major shareholder Vladimir Galkin increased his position by purchasing 138,757 shares at an average price of $42.33, raising his total holdings to approximately $141 million.

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) traded down 9.9% during trading on Wednesday . The stock traded as low as $44.50 and last traded at $45.22. 214,360 shares were traded during mid-day trading, a decline of 72% from the average session volume of 766,026 shares. The stock had previously closed at $50.20.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Newegg Commerce in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Newegg Commerce has an average rating of "Sell".

Newegg Commerce Stock Down 11.1%

The firm's fifty day moving average price is $55.98 and its two-hundred day moving average price is $30.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Insider Buying and Selling at Newegg Commerce

In other news, major shareholder Vladimir Galkin purchased 138,757 shares of the stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $42.33 per share, with a total value of $5,873,583.81. Following the transaction, the insider owned 3,333,333 shares in the company, valued at $141,099,985.89. The trade was a 4.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.90% of the company's stock.

Institutional Trading of Newegg Commerce

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of Newegg Commerce during the first quarter worth approximately $55,000. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce during the second quarter worth approximately $4,281,000. Bank of America Corp DE raised its position in Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company's stock worth $175,000 after acquiring an additional 10,675 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Newegg Commerce in the second quarter worth $64,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

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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