Fred Faching Chang Sells 3,582 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 3,582 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.87, for a total value of $56,846.34. Following the completion of the transaction, the director owned 3,100,851 shares of the company’s stock, valued at $49,210,505.37. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.40, for a total value of $58,744.80.
• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.77, for a total value of $395,470.14.

Newegg Commerce Stock Down 5.4%

Shares of NASDAQ:NEGG traded down $0.88 during midday trading on Friday, reaching $15.60. The company had a trading volume of 60,298 shares, compared to its average volume of 77,551. The company’s 50 day moving average price is $15.94 and its 200 day moving average price is $26.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. Newegg Commerce, Inc. has a 52-week low of $12.50 and a 52-week high of $96.29.

Newegg Commerce (NASDAQ:NEGG) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.40) by $0.51. The company had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in shares of Newegg Commerce in the third quarter worth $30,000. Royal Bank of Canada raised its stake in shares of Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares during the period. Bank of America Corp DE lifted its holdings in Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after purchasing an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Newegg Commerce in the 3rd quarter worth about $207,000. Finally, Squarepoint Ops LLC bought a new position in Newegg Commerce in the 4th quarter worth about $251,000. Hedge funds and other institutional investors 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.