Key Points
- Director Fred Chang sold 3,582 Newegg shares for $41,658.66 at an average price of $11.63, reducing his stake by 0.12% to 2.89 million shares. The sale continues a series of insider transactions totaling substantial share sales since mid-September.
- Newegg shares opened at $11.13, near their 12-month low of $10.77 and well below their 50-day and 200-day moving averages of $15.31 and $20.86, respectively.
- The company beat quarterly EPS expectations with $0.11 versus an estimated loss of $0.40, but revenue of $320.41 million fell short of the $439.20 million consensus. Analysts maintain a “Sell” consensus rating.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the company's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $11.63, for a total value of $41,658.66. Following the transaction, the director directly owned 2,890,237 shares of the company's stock, valued at $33,613,456.31. The trade was a 0.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Fred Faching Chang also recently made the following trade(s):
- On Wednesday, October 7th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.83, for a total value of $42,375.06.
- On Monday, October 5th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.82, for a total value of $42,339.24.
- On Friday, October 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.88, for a total value of $42,554.16.
- On Wednesday, September 30th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.18, for a total value of $47,210.76.
- On Monday, September 28th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.13, for a total value of $47,031.66.
- On Friday, September 25th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.66, for a total value of $48,930.12.
- On Wednesday, September 23rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $14.31, for a total value of $51,258.42.
- 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 stock was 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.
Newegg Commerce Trading Down 1.9%
NASDAQ:NEGG opened at $11.13 on Wednesday. The firm's fifty day simple moving average is $15.31 and its 200 day simple moving average is $20.86. Newegg Commerce, Inc. has a twelve month low of $10.77 and a twelve month high of $96.29. 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 issued its quarterly earnings data on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.51. The company 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 reaffirmed a "sell (d-)" rating on shares of Newegg Commerce in a research note on Friday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Newegg Commerce has a consensus rating of "Sell".
Read Our Latest Analysis on Newegg Commerce
Newegg Commerce Company Profile
(
Get Free Report)
Newegg Commerce, Inc is an online retailer and marketplace specializing in technology products and consumer electronics. Its product categories include computer components and peripherals, desktop and notebook computers, gaming products, mobile devices, networking equipment, home electronics, appliances, and related accessories. The company serves individual consumers, businesses, technology enthusiasts, and professional system builders.
In addition to selling products directly, Newegg operates a third-party marketplace that allows other merchants and brands to offer products through its platform.
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