Key Points
- Director Fred Chang sold 3,582 Newegg shares for $38,112.48 at an average price of $10.64, reducing his ownership by 0.12% to 2,879,491 shares.
- Chang has made a series of similar sales since September 18, selling 3,582 shares in each transaction as Newegg’s sale prices declined from $13.54–$14.31 to $10.64.
- Newegg shares fell 4.0% to $10.90 and remain near their 12-month low of $10.34. Analysts maintain a negative outlook, with the stock carrying an average “Sell” rating despite the company exceeding quarterly EPS expectations.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of the business's stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $10.64, for a total value of $38,112.48. Following the transaction, the director directly owned 2,879,491 shares in the company, valued at $30,637,784.24. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Fred Faching Chang also recently made the following trade(s):
- On Monday, October 12th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.30, for a total value of $40,476.60.
- On Friday, October 9th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 shares were 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 stock was 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.
Newegg Commerce Trading Down 4.0%
Shares of Newegg Commerce stock traded down $0.46 during trading hours on Friday, hitting $10.90. 33,399 shares of the company's stock traded hands, compared to its average volume of 38,640. The stock has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $20.38. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. Newegg Commerce, Inc. has a twelve month low of $10.34 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, topping analysts' consensus estimates 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.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Newegg Commerce in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of "Sell".
Get Our Latest Analysis on Newegg Commerce
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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