Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 6,483 Shares

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 6,483 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $30.25, for a total value of $196,110.75. Following the completion of the sale, the director directly owned 3,373,590 shares in the company, valued at approximately $102,051,097.50. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fred Faching Chang also recently made the following trade(s):

• On Monday, May 18th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.66, for a total value of $393,200.00.
• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total value of $450,400.00.
• On Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $23.66, for a total value of $473,200.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The stock was sold at an average price of $25.41, for a total value of $176,447.04.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $26.25, for a total value of $525,000.00.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The stock was sold at an average price of $32.29, for a total value of $22,699.87.
• On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The stock was sold at an average price of $30.10, for a total value of $110,075.70.
• On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $31.88, for a total value of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total value of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total value of $690,600.00.

Newegg Commerce Stock Up 5.5%

Shares of NEGG stock opened at $20.57 on Thursday. The business’s fifty day moving average is $36.05 and its 200 day moving average is $50.98. Newegg Commerce, Inc. has a twelve month low of $4.70 and a twelve month high of $137.84. The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.27.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.38. The firm had revenue of $374.40 million during the quarter, compared to analysts’ expectations of $439.20 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Newegg Commerce News Roundup

Here are the key news stories impacting Newegg Commerce this week:

• Negative Sentiment: Director Fred Faching Chang disclosed several share sales between May 4 and May 18, totaling tens of thousands of shares sold at prices ranging from about $19.66 to $32.29, which can pressure sentiment and raise concerns about insider confidence. SEC filing
• Neutral Sentiment: Despite the sales, Chang still owns more than 3.2 million shares of Newegg, so the insider continues to maintain a very large stake in the company. SEC filing

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce in the third quarter worth $30,000. Royal Bank of Canada grew its stake in shares of Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Newegg Commerce in the fourth quarter worth $251,000. Qube Research & Technologies Ltd purchased a new stake in shares of Newegg Commerce in the third quarter worth $207,000. Finally, Quantum Private Wealth LLC bought a new position in shares of Newegg Commerce during the third quarter valued at $210,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

Newegg Commerce Company Profile

Newegg Commerce, Inc (NASDAQ: NEGG) is a leading online retailer and marketplace specializing in technology products, consumer electronics and computer hardware. Founded in 2001 and headquartered in City of Industry, California, the company operates the flagship Newegg.com platform, which offers an extensive selection of desktops, laptops, components, peripherals, software and related accessories. Newegg’s business model combines direct retail sales with a third-party marketplace, enabling both established brands and independent sellers to reach a technology-focused audience.

In addition to its core e-commerce offerings, Newegg provides a range of value-added services, including logistics support, warehousing and fulfillment solutions designed to streamline order processing for marketplace partners.