Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells 23,582 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 23,582 shares of Newegg Commerce stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $13.38, for a total value of $315,527.16. Following the completion of the sale, the director directly owned 2,999,631 shares in the company, valued at approximately $40,135,062.78. This represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, September 14th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $14.49, for a total value of $51,903.18.
• On Thursday, September 10th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $14.47, for a total transaction of $51,831.54.
• On Wednesday, September 9th, Fred Chang sold 12,564 shares of Newegg Commerce stock. The shares were 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 stock was sold at an average price of $15.18, for a total transaction of $206,174.76.
• On Friday, September 4th, Fred Chang sold 13,582 shares of Newegg Commerce stock. The stock was sold at an average price of $15.62, for a total transaction of $212,150.84.
• 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 transaction of $58,744.80.
• 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 1.5%

NASDAQ:NEGG traded down $0.20 on Wednesday, hitting $13.27. 77,278 shares of the company’s stock were exchanged, compared to its average volume of 48,920. The firm has a 50-day moving average price of $15.77 and a 200-day moving average price of $24.70. The company has a current ratio of 1.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. 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 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.51. The business had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

Wall Street Analyst Weigh In

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

Newegg Commerce Company Profile

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.