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 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 transaction, the director owned 3,073,687 shares in the company, valued at $50,408,466.80. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.77, for a total transaction 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 transaction of $56,846.34.

Newegg Commerce Trading Down 7.0%

Shares of NASDAQ:NEGG opened at $15.32 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. The business’s 50 day simple moving average is $15.91 and its 200-day simple moving average is $26.81. Newegg Commerce, Inc. has a 12 month low of $12.50 and a 12 month high of $96.29.

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

Hedge Funds Weigh In On Newegg Commerce

Several hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce in the third quarter valued at $30,000. Royal Bank of Canada boosted its stake in shares of Newegg Commerce by 5,472.2% during the fourth 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 last quarter. Squarepoint Ops LLC purchased a new stake in Newegg Commerce during the 4th quarter worth about $251,000. Qube Research & Technologies Ltd acquired a new position in Newegg Commerce in the 3rd quarter valued at about $207,000. Finally, Geode Capital Management LLC lifted its holdings in Newegg Commerce by 39.8% in the 4th quarter. Geode Capital Management LLC now owns 17,674 shares of the company’s stock valued at $897,000 after purchasing an additional 5,028 shares in the last quarter. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

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

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.