Newegg Commerce (NASDAQ:NEGG) Shares Down 3.7% - Here's What Happened

Key Points

• Newegg Commerce shares fell 3.7% to $17.51 during Tuesday trading, with volume 78% below the average daily level.
• Weiss Ratings upgraded the stock from “sell (e+)” to “sell (d-),” but the company remains covered with an overall “Sell” rating; its 50-day and 200-day moving averages are $16.00 and $28.77, respectively.
• Insiders sold 42,414 shares worth approximately $822,386 over the past 90 days, while institutional ownership remains very low at 0.45%.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) shares dropped 3.7% during trading on Tuesday . The company traded as low as $17.38 and last traded at $17.51. 17,503 shares were traded during trading, a decline of 78% from the average daily volume of 78,668 shares. The stock had previously closed at $18.19.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Newegg Commerce from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Newegg Commerce Trading Down 1.8%

The company has a fifty day moving average of $16.00 and a 200 day moving average of $28.77. The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24.

Insider Activity

In other news, Director Fred Faching Chang sold 18,539 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total value of $370,780.00. Following the sale, the director owned 3,104,433 shares of the company's stock, valued at approximately $62,088,660. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 42,414 shares of company stock worth $822,386. 22.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company's stock valued at $51,000 after acquiring an additional 985 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce in the 4th quarter worth approximately $251,000. Jane Street Group LLC bought a new stake in shares of Newegg Commerce in the 4th quarter worth approximately $2,042,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Newegg Commerce by 234.7% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Newegg Commerce during the fourth quarter valued at approximately $490,000. 0.45% of the stock is owned by institutional investors and hedge funds.

About Newegg Commerce

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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