Newegg Commerce (NASDAQ:NEGG) Trading Up 6.3% – Time to Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shot up 6.3% during trading on Friday . The company traded as high as $13.99 and last traded at $13.8460. 28,532 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 76,402 shares. The stock had previously closed at $13.03.

Analyst Ratings Changes

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

Newegg Commerce Stock Up 5.8%

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 moving average price of $15.73 and a 200-day moving average price of $24.48.

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 the consensus estimate of ($0.40) by $0.51. The firm had revenue of $320.41 million during the quarter, compared to analyst estimates of $439.20 million.

Insider Buying and Selling

In other news, Director Fred Chang sold 23,582 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $13.38, for a total transaction of $315,527.16. Following the completion of the sale, the director directly owned 2,999,631 shares of the company’s stock, valued at $40,135,062.78. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Zhitao He sold 39,414 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $16.50, for a total value of $650,331.00. Following the sale, the director directly owned 11,101,665 shares of the company’s stock, valued at approximately $183,177,472.50. This trade represents a 0.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 140,835 shares of company stock worth $2,192,115. 22.90% of the stock is currently owned by insiders.

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.