Key Points
- Director Fred Chang sold 3,582 Newegg shares at an average price of $10.64, generating $38,112.48. He still directly owns 2.86 million shares, and the sale reduced his position by 0.13%.
- Chang has made a series of identical 3,582-share sales from late September through October 21, with sale prices declining from approximately $13.18 to $10.64.
- Newegg shares have fallen sharply, opening at $9.94 and trading near their 12-month low of $9.94 versus a 12-month high of $96.29. Analysts maintain a consensus “Sell” rating, although the company’s latest quarterly EPS beat estimates while revenue fell short.
Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Chang sold 3,582 shares of Newegg Commerce stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $10.64, for a total value of $38,112.48. Following the sale, the director directly owned 2,861,581 shares of the company's stock, valued at approximately $30,447,221.84. The trade was a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Fred Faching Chang also recently made the following trade(s):
- On Monday, October 19th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $10.71, for a total value of $38,363.22.
- On Friday, October 16th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.13, for a total value of $39,867.66.
- On Wednesday, October 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $10.64, for a total value of $38,112.48.
- On Monday, October 12th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were 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 value 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 value 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 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 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 shares were sold at an average price of $13.13, for a total transaction of $47,031.66.
Newegg Commerce Stock Down 5.9%
NASDAQ NEGG opened at $9.94 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. The company has a 50 day moving average price of $14.25 and a two-hundred day moving average price of $19.45. Newegg Commerce, Inc. has a 12-month low of $9.94 and a 12-month high of $96.29.
Newegg Commerce (NASDAQ:NEGG - Get Free Report) last posted its earnings results on Thursday, August 27th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.40) by $0.51. The business had revenue of $320.41 million during the quarter, compared to the consensus estimate 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 note on Friday, October 9th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of "Sell".
Read Our Latest Report on NEGG
Newegg Commerce Company Profile
(
Get Free Report)
Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its offerings include desktop and laptop computers, computer components, peripherals, networking equipment, software, gaming products, mobile devices, home electronics and selected appliances. The company sells products directly and provides a marketplace through which third-party merchants can offer products to customers.
In addition to its retail operations, Newegg provides services for businesses and marketplace sellers, including fulfillment, logistics, advertising, product listing and other e-commerce support solutions.
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