Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $212,150.84 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 13,582 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $15.62, for a total transaction of $212,150.84. Following the sale, the director directly owned 3,060,105 shares of the company’s stock, valued at approximately $47,798,840.10. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, September 9th, Fred Chang sold 12,564 shares of Newegg Commerce stock. The stock was sold at an average price of $15.13, for a total transaction of $190,093.32.
• On Tuesday, September 8th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.18, for a total transaction of $206,174.76.
• 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.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Trading Down 4.1%

Shares of NEGG opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. The business has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $25.66. Newegg Commerce, Inc. has a 52 week low of $12.50 and a 52 week high of $96.29.

Newegg Commerce (NASDAQ:NEGG) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51. The company had revenue of $320.41 million for the quarter, compared to analysts’ expectations of $439.20 million.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new stake in Newegg Commerce in the 2nd quarter valued at $4,281,000. Bank of America Corp DE boosted its stake in Newegg Commerce by 10,675.0% during the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after buying an additional 10,675 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Newegg Commerce during the 3rd quarter valued at approximately $1,603,000. UBS Group AG increased its stake in Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after acquiring an additional 53,411 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Newegg Commerce in the 3rd quarter worth approximately $981,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

About Newegg Commerce

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.