Key Points
- Newegg director Fred Faching Chang sold 20,000 shares on May 18 at an average price of $19.66, bringing in $393,200 and trimming his ownership by 0.61%.
- Chang has been actively selling shares throughout May and late April, with multiple transactions totaling tens of thousands of shares at prices ranging from about $19.66 to $34.53.
- Newegg stock opened at $20.57, far below its 50-day and 200-day moving averages, while the company most recently reported an EPS loss of $0.02 that beat estimates but missed revenue expectations.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Faching Chang sold 703 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $32.29, for a total transaction of $22,699.87. Following the transaction, the director owned 3,380,073 shares in the company, valued at approximately $109,142,557.17. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Fred Faching Chang also recently made the following trade(s):
- On Monday, May 18th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.66, for a total transaction of $393,200.00.
- On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total transaction of $450,400.00.
- On Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $23.66, for a total value of $473,200.00.
- On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The stock was sold at an average price of $25.41, for a total value of $176,447.04.
- On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $26.25, for a total value of $525,000.00.
- On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The stock was sold at an average price of $30.25, for a total value of $196,110.75.
- On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The stock was sold at an average price of $30.10, for a total value of $110,075.70.
- On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $31.88, for a total value of $478,200.00.
- On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total value of $509,100.00.
- On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total value of $690,600.00.
Newegg Commerce Price Performance
Shares of NASDAQ:NEGG opened at $20.57 on Thursday. Newegg Commerce, Inc. has a 1-year low of $4.70 and a 1-year high of $137.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76. The business has a 50-day moving average price of $36.05 and a two-hundred day moving average price of $50.98.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.38. The firm had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Newegg Commerce from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Newegg Commerce has a consensus rating of "Sell".
Read Our Latest Report on NEGG
Key Stories Impacting Newegg Commerce
Here are the key news stories impacting Newegg Commerce this week:
- Negative Sentiment: Director Fred Faching Chang disclosed several share sales between May 4 and May 18, totaling tens of thousands of shares sold at prices ranging from about $19.66 to $32.29, which can pressure sentiment and raise concerns about insider confidence. SEC filing
- Neutral Sentiment: Despite the sales, Chang still owns more than 3.2 million shares of Newegg, so the insider continues to maintain a very large stake in the company. SEC filing
Institutional Trading of Newegg Commerce
Institutional investors and hedge funds have recently modified their holdings of the stock. Hussman Strategic Advisors Inc. bought a new stake in shares of Newegg Commerce in the 3rd quarter valued at about $1,762,000. Clear Street Group Inc. bought a new stake in Newegg Commerce during the 3rd quarter worth approximately $856,000. Ritholtz Wealth Management increased its stake in Newegg Commerce by 247.3% during the 4th quarter. Ritholtz Wealth Management now owns 20,160 shares of the company's stock worth $1,023,000 after purchasing an additional 14,356 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Newegg Commerce during the 3rd quarter worth approximately $30,000. Finally, Squarepoint Ops LLC bought a new position in Newegg Commerce during the 4th quarter worth about $251,000. 0.45% of the stock is owned by institutional investors.
About Newegg Commerce
(
Get Free Report)
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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