Key Points
- Newegg Commerce director Fred Faching Chang sold 10,000 shares on Thursday, May 28, at an average price of $17.91, totaling $179,100. After the sale, he still owned about 3.15 million shares worth roughly $56.4 million.
- Chang has been actively trimming his stake with multiple recent sales in May, including several larger transactions at prices ranging from about $19.40 to $32.29 per share.
- Newegg stock has fallen sharply from its recent levels, opening at $18.92 while its 50-day and 200-day moving averages were $32.70 and $47.18, respectively. MarketBeat also notes the consensus analyst rating remains Sell.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Faching Chang sold 10,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $17.91, for a total transaction of $179,100.00. Following the completion of the sale, the director directly owned 3,146,646 shares of the company's stock, valued at approximately $56,356,429.86. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Fred Faching Chang also recently made the following trade(s):
- On Friday, May 22nd, Fred Faching Chang sold 10,000 shares of Newegg Commerce stock. The stock was sold at an average price of $20.14, for a total transaction of $201,400.00.
- On Thursday, May 21st, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.40, for a total transaction of $388,000.00.
- 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 shares were sold at an average price of $23.66, for a total transaction of $473,200.00.
- On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The shares were sold at an average price of $25.41, for a total transaction of $176,447.04.
- On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $26.25, for a total transaction of $525,000.00.
- On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The shares were sold at an average price of $30.25, for a total transaction of $196,110.75.
- On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The shares were sold at an average price of $32.29, for a total transaction of $22,699.87.
- On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The shares were sold at an average price of $30.10, for a total transaction of $110,075.70.
Newegg Commerce Stock Performance
Shares of NEGG stock opened at $18.92 on Tuesday. Newegg Commerce, Inc. has a 12 month low of $4.84 and a 12 month high of $137.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. The company's fifty day moving average price is $32.70 and its 200-day moving average price is $47.18.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $999.00 EPS for the quarter.
Hedge Funds Weigh In On Newegg Commerce
A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce during the 2nd quarter valued at about $4,281,000. Bank of America Corp DE increased its position 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 valued at $175,000 after purchasing an additional 10,675 shares during the last quarter. Quantum Private Wealth LLC purchased a new stake in shares of Newegg Commerce during the 3rd quarter valued at about $210,000. BNP Paribas Financial Markets purchased a new stake in shares of Newegg Commerce during the 3rd quarter valued at about $1,603,000. Finally, UBS Group AG increased its position in shares of Newegg Commerce by 242.0% during the 3rd quarter. UBS Group AG now owns 75,482 shares of the company's stock valued at $3,166,000 after purchasing an additional 53,411 shares during the last quarter. Hedge funds and other institutional investors own 0.45% of the company's stock.
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 research note on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newegg Commerce presently has a consensus rating of "Sell".
Check Out Our Latest Stock Analysis on Newegg Commerce
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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