Newegg Commerce (NASDAQ:NEGG) Sees Unusually-High Trading Volume – Should You Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares saw unusually-strong trading volume on Thursday . 51,721 shares changed hands during mid-day trading, a decline of 33% from the previous session’s volume of 77,457 shares.The stock last traded at $16.45 and had previously closed at $17.00.

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, July 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce currently has a consensus rating of “Sell”.

Newegg Commerce Stock Down 7.0%

The company has a current ratio of 1.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $15.91 and its two-hundred day moving average price is $26.81.

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

Insider Activity at Newegg Commerce

In other news, Director Fred Chang sold 3,582 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $16.40, for a total transaction of $58,744.80. Following the sale, the director directly owned 3,073,687 shares in the company, valued at approximately $50,408,466.80. The trade was a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 30,947 shares of company stock worth $514,103 over the last quarter. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after acquiring an additional 985 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce in the fourth quarter worth $251,000. Jane Street Group LLC bought a new stake in shares of Newegg Commerce in the fourth quarter worth $2,042,000. O Shaughnessy Asset Management LLC increased its holdings in Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after purchasing an additional 20,575 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Newegg Commerce during the 4th quarter worth $490,000. 0.45% of the stock is owned by 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.