Newegg Commerce (NASDAQ:NEGG) Reaches New 1-Year Low on Insider Selling

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) hit a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $12.00 and last traded at $12.33, with a volume of 79511 shares traded. The stock had previously closed at $13.20.

Specifically, Director Fred Chang sold 3,582 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $13.13, for a total transaction of $47,031.66. Following the completion of the sale, the director owned 2,922,475 shares of the company’s stock, valued at $38,372,096.75. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fred Chang sold 3,582 shares of Newegg Commerce stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $13.66, for a total value of $48,930.12. Following the completion of the sale, the director owned 2,926,057 shares of the company’s stock, valued at approximately $39,969,938.62. The trade was a 0.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analyst Ratings Changes

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

Newegg Commerce Price Performance

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 fifty day simple moving average of $15.71 and a 200 day simple moving average of $22.59.

Newegg Commerce (NASDAQ:NEGG) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $439.20 million.

About Newegg Commerce

Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its merchandise includes computer components, laptops, desktop computers, peripherals, networking equipment, software, gaming products, home electronics, appliances and related accessories.

The company serves individual consumers, businesses and technology enthusiasts through its Newegg retail platform and marketplace. In addition to selling products directly, Newegg enables third-party merchants and brands to offer merchandise through its platform and provides services such as fulfillment, advertising and business-to-business purchasing support.

Newegg was founded in 2001 and is headquartered in the City of Industry, California.