Newegg Commerce (NASDAQ:NEGG) Shares Up 6.3% - Time to Buy?

Key Points

• Newegg shares rose 6.3% to $13.85 in Friday trading, though volume was 63% below the average session level. The stock remains below its 50-day and 200-day moving averages of $15.73 and $24.48, respectively.
• The company reported quarterly EPS of $0.11, beating the consensus estimate of a $0.40 loss, but revenue of $320.4 million fell well short of the $439.2 million forecast.
• Analyst sentiment remains bearish: Newegg has a consensus “Sell” rating, while insiders sold 140,835 shares worth approximately $2.19 million over the past three months.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report)'s stock price shot up 6.3% on Friday . The company traded as high as $13.99 and last traded at $13.8460. Approximately 28,532 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 76,402 shares. The stock had previously closed at $13.03.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Newegg Commerce Stock Performance

The firm's 50 day simple moving average is $15.73 and its 200-day simple moving average is $24.48. The company has a current ratio of 1.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.51. The business had revenue of $320.41 million during the quarter, compared to analysts' expectations of $439.20 million.

Insiders Place Their Bets

In other Newegg Commerce news, Director Zhitao He sold 39,414 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $16.50, for a total value of $650,331.00. Following the transaction, the director directly owned 11,101,665 shares in the company, valued at $183,177,472.50. The trade was a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fred Chang sold 23,582 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $13.38, for a total transaction of $315,527.16. Following the completion of the sale, the director directly owned 2,999,631 shares of the company's stock, valued at approximately $40,135,062.78. This trade represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 140,835 shares of company stock worth $2,192,115 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

About Newegg Commerce

Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its merchandise includes computer components, laptops, desktop computers, peripherals, networking equipment, software, gaming products, home electronics, appliances and related accessories.

The company serves individual consumers, businesses and technology enthusiasts through its Newegg retail platform and marketplace. In addition to selling products directly, Newegg enables third-party merchants and brands to offer merchandise through its platform and provides services such as fulfillment, advertising and business-to-business purchasing support.

Newegg was founded in 2001 and is headquartered in the City of Industry, California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.