Key Points
- Director Fred Chang sold 3,582 Newegg shares for $40,476.60 at an average price of $11.30, reducing his ownership by 0.12% to 2,886,655 shares.
- Chang has made a series of similarly sized sales since September 18, selling shares as prices declined from as high as $14.31 to $11.30.
- Newegg shares opened at $10.61, down 4.7%, and remain near their 52-week low of $10.34. The stock holds a consensus “Sell” rating, while the company’s latest earnings beat estimates despite revenue falling short of forecasts.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the business's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $11.30, for a total transaction of $40,476.60. Following the transaction, the director owned 2,886,655 shares in the company, valued at approximately $32,619,201.50. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Fred Faching Chang also recently made the following trade(s):
- On Friday, October 9th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.63, for a total transaction of $41,658.66.
- 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 transaction of $42,375.06.
- On Monday, October 5th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $11.82, for a total transaction of $42,339.24.
- On Friday, October 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $11.88, for a total transaction of $42,554.16.
- On Wednesday, September 30th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $13.18, for a total transaction of $47,210.76.
- On Monday, September 28th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.13, for a total transaction of $47,031.66.
- On Friday, September 25th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $13.66, for a total transaction 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 transaction 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 transaction 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 transaction of $49,395.78.
Newegg Commerce Stock Down 4.7%
Shares of NASDAQ:NEGG opened at $10.61 on Thursday. Newegg Commerce, Inc. has a 52-week low of $10.34 and a 52-week 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. The company has a 50-day simple moving average of $15.19 and a 200 day simple moving average of $20.65.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.51. The business had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Newegg Commerce in a research note on Friday, October 9th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".
Get Our Latest Stock Analysis on NEGG
About Newegg Commerce
(
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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