Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $395,470.14 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 23,582 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $16.77, for a total value of $395,470.14. Following the sale, the director directly owned 3,077,269 shares of the company’s stock, valued at $51,605,801.13. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $58,744.80.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Stock Down 5.4%

Shares of NASDAQ:NEGG traded down $0.88 during midday trading on Friday, reaching $15.60. The company’s stock had a trading volume of 60,298 shares, compared to its average volume of 77,551. The business’s fifty day simple moving average is $15.94 and its 200-day simple moving average is $26.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. Newegg Commerce, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $96.29.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.51. The company had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in shares of Newegg Commerce during the 3rd quarter worth approximately $30,000. Royal Bank of Canada lifted its holdings in Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after buying an additional 985 shares during the period. Squarepoint Ops LLC bought a new position in Newegg Commerce in the fourth quarter valued at approximately $251,000. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce during the 3rd quarter worth $207,000. Finally, Geode Capital Management LLC grew its holdings in Newegg Commerce by 39.8% during the 4th quarter. Geode Capital Management LLC now owns 17,674 shares of the company’s stock worth $897,000 after acquiring an additional 5,028 shares during the period. 0.45% of the stock is currently owned by institutional investors and hedge funds.

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.