Newegg Commerce (NASDAQ:NEGG) Stock Price Up 8.2% - Still a Buy?

Key Points

• Newegg shares rose 8.2% to $17.15, although trading volume was 61% below the average daily level. The stock remains well below its 200-day moving average of $27.33.
• The company reported quarterly EPS of $0.11, beating the consensus estimate of a $0.40 loss, but revenue of $320.41 million fell short of the $439.20 million analyst estimate.
• Despite some institutional buying, analyst sentiment remains negative: Weiss Ratings upgraded the stock’s rating but still classified it as a “sell,” and the company has an overall average rating of “Sell.”

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) was up 8.2% on Wednesday . The company traded as high as $17.16 and last traded at $17.1450. 30,009 shares changed hands during trading, a decline of 61% from the average daily volume of 77,266 shares. The stock had previously closed at $15.85.

Analysts Set New Price Targets

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

Newegg Commerce Stock Up 8.7%

The stock has a fifty day moving average of $15.93 and a 200-day moving average of $27.33. 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 released its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.51. The firm had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in Newegg Commerce in the 2nd quarter valued at $4,281,000. Bank of America Corp DE boosted its stake in shares of 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 worth $175,000 after buying an additional 10,675 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Newegg Commerce in the 3rd quarter valued at about $1,603,000. UBS Group AG grew its holdings in shares of Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company's stock valued at $3,166,000 after acquiring an additional 53,411 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Newegg Commerce in the third quarter valued at about $981,000. Institutional investors and hedge funds own 0.45% of the company's stock.

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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