Key Points
- Director Fred Chang sold 23,582 Newegg shares at an average price of $16.77, generating approximately $395,470. After the transaction, he retained 3,077,269 shares, a 0.76% reduction in ownership.
- Newegg 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.
- NEGG shares opened at $15.32 and remain well below their 12-month high of $96.29. MarketBeat data shows an overall Sell rating, while institutional investors own just 0.45% of the stock.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $15.87, for a total value of $56,846.34. Following the sale, the director owned 3,100,851 shares in the company, valued at $49,210,505.37. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Fred Faching Chang also recently made the following trade(s):
- On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.40, for a total value of $58,744.80.
- On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.77, for a total value of $395,470.14.
Newegg Commerce Stock Performance
Shares of NEGG stock opened at $15.32 on Friday. 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, Inc. has a 12-month low of $12.50 and a 12-month high of $96.29. The business's 50 day moving average is $15.91 and its two-hundred day moving average is $26.81.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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.
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 report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".
View Our Latest Stock Analysis on NEGG
Institutional Trading of Newegg Commerce
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Newegg Commerce during the fourth quarter worth $2,042,000. BNP Paribas Financial Markets purchased a new stake in Newegg Commerce in the 3rd quarter valued at about $1,603,000. O Shaughnessy Asset Management LLC raised its holdings in Newegg Commerce by 234.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company's stock valued at $1,489,000 after buying an additional 20,575 shares during the period. XTX Topco Ltd acquired a new position in Newegg Commerce in the third quarter valued at about $1,343,000. Finally, Millennium Management LLC acquired a new position in 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
(
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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