Newegg Commerce (NASDAQ:NEGG) Releases Earnings Results

Newegg Commerce (NASDAQ:NEGG) posted its quarterly earnings results on Thursday. The company reported $999.00 earnings per share (EPS) for the quarter, Zacks reports.

Newegg Commerce Price Performance

NASDAQ:NEGG traded down $1.54 during trading hours on Thursday, hitting $17.11. 34,410 shares of the company were exchanged, compared to its average volume of 76,209. Newegg Commerce has a 52-week low of $4.82 and a 52-week high of $137.84. The company’s 50 day moving average price is $33.80 and its 200-day moving average price is $48.73. The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.27.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Insiders Place Their Bets

In other news, Director Fred Faching Chang sold 10,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $20.14, for a total value of $201,400.00. Following the transaction, the director directly owned 3,176,646 shares of the company’s stock, valued at approximately $63,977,650.44. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 177,854 shares of company stock worth $4,616,778. 22.90% of the stock is currently owned by insiders.

Institutional Trading of Newegg Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Newegg Commerce during the 2nd quarter valued at about $4,281,000. Bank of America Corp DE increased its holdings in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after acquiring an additional 10,675 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Newegg Commerce in the third quarter valued at about $1,603,000. UBS Group AG increased its stake in shares of Newegg Commerce by 242.0% during the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after purchasing an additional 53,411 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Newegg Commerce during the third quarter valued at approximately $981,000. Institutional investors and hedge funds own 0.45% of the company’s stock.

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.