Newegg Commerce (NASDAQ:NEGG) Trading Down 5.6% – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG) was down 5.6% during trading on Thursday . The company traded as low as $61.75 and last traded at $63.20. Approximately 82,644 shares traded hands during trading, a decline of 89% from the average daily volume of 741,758 shares. The stock had previously closed at $66.93.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Newegg Commerce Price Performance

The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $67.40 and a 200 day moving average price of $48.96.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Newegg Commerce during the 2nd quarter worth $4,281,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce during the 1st quarter worth $55,000. UBS Group AG increased its stake in shares of Newegg Commerce by 242.0% during the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after buying an additional 53,411 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in shares of Newegg Commerce in the third quarter valued at about $1,762,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Newegg Commerce in the third quarter valued at about $1,603,000. Institutional investors own 0.45% of the company’s stock.

Newegg Commerce Company Profile

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.