Newegg Commerce (NASDAQ:NEGG) Trading Up 6.9% – Time to Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) rose 6.9% during trading on Tuesday . The company traded as high as $59.25 and last traded at $61.1180. Approximately 21,000 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 733,778 shares. The stock had previously closed at $57.16.

Analysts Set New Price Targets

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

Newegg Commerce Stock Performance

The firm’s 50 day simple moving average is $67.47 and its 200-day simple moving average is $49.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently bought and sold shares of NEGG. NewEdge Advisors LLC purchased a new position in Newegg Commerce during the 3rd quarter valued at about $30,000. FNY Investment Advisers LLC purchased a new position in Newegg Commerce during the second quarter valued at approximately $64,000. Bank of America Corp DE increased its stake in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after buying an additional 10,675 shares during the period. Qube Research & Technologies Ltd acquired a new position in Newegg Commerce in the 3rd quarter valued at approximately $207,000. Finally, Quantum Private Wealth LLC purchased a new stake in Newegg Commerce in the 3rd quarter worth approximately $210,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

About Newegg Commerce

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.