Key Points
- Director Fred Chang sold 3,582 Newegg shares on September 23 at an average price of $14.31, generating $51,258.42. He retained 2,933,221 shares valued at approximately $42.0 million.
- Chang has made a series of insider sales in September, including larger transactions of 28,500 and 23,582 shares, indicating a substantial reduction in his holdings over the period.
- Newegg shares opened at $14.13 and remain well below their 12-month high of $96.29. Although quarterly EPS beat estimates, revenue fell short of expectations, and the sole tracked analyst maintains a Sell rating.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $14.31, for a total transaction of $51,258.42. Following the completion of the sale, the director directly owned 2,933,221 shares of the company's stock, valued at approximately $41,974,392.51. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Fred Faching Chang also recently made the following trade(s):
- On Friday, September 18th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.54, for a total value of $48,500.28.
- On Monday, September 21st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.79, for a total value of $49,395.78.
- On Thursday, September 17th, Fred Chang sold 28,500 shares of Newegg Commerce stock. The stock was sold at an average price of $13.05, for a total value of $371,925.00.
- On Tuesday, September 15th, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.38, for a total transaction of $315,527.16.
- On Monday, September 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $14.49, for a total transaction of $51,903.18.
- On Thursday, September 10th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $14.47, for a total value of $51,831.54.
- On Wednesday, September 9th, Fred Chang sold 12,564 shares of Newegg Commerce stock. The shares were sold at an average price of $15.13, for a total value of $190,093.32.
- On Tuesday, September 8th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.18, for a total transaction of $206,174.76.
- On Friday, September 4th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.62, for a total transaction of $212,150.84.
- 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.
Newegg Commerce Trading Down 2.1%
NEGG stock opened at $14.13 on Friday. The firm's fifty day simple moving average is $15.75 and its two-hundred day simple moving average is $23.47. 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 twelve month low of $12.50 and a twelve month high of $96.29.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.51. The business had revenue of $320.41 million for the quarter, compared to analysts' expectations of $439.20 million.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded Newegg Commerce from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".
Get Our Latest Report on Newegg Commerce
About Newegg Commerce
(
Get Free Report)
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.
Further Reading
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