Newegg Commerce (NASDAQ:NEGG) Stock Price Down 6.8% – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price traded down 6.8% on Wednesday . The stock traded as low as $57.22 and last traded at $54.86. 6,520 shares were traded during mid-day trading, a decline of 99% from the average session volume of 731,113 shares. The stock had previously closed at $58.86.

Wall Street Analysts Forecast Growth

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

Newegg Commerce Price Performance

The stock has a 50-day moving average of $67.88 and a two-hundred day moving average of $50.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Hedge Funds Weigh In On Newegg Commerce

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in Newegg Commerce during the 2nd quarter valued at about $64,000. Marshall Wace LLP purchased a new position in Newegg Commerce in the second quarter worth about $4,281,000. Bank of America Corp DE lifted its stake in shares of Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after buying an additional 10,675 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Newegg Commerce during the third quarter valued at approximately $243,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Newegg Commerce during the third quarter valued at approximately $1,762,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Newegg Commerce

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.