Newegg Commerce (NASDAQ:NEGG) Trading 6.6% Higher – Should You Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares traded up 6.6% during mid-day trading on Wednesday . The stock traded as high as $15.25 and last traded at $14.5860. 14,619 shares traded hands during trading, a decline of 81% from the average daily volume of 77,593 shares. The stock had previously closed at $13.68.

Wall Street Analysts Forecast Growth

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

Newegg Commerce Stock Down 4.9%

The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The company’s 50 day simple moving average is $17.00 and its 200 day simple moving average is $34.21.

Newegg Commerce (NASDAQ:NEGG) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.38. The firm had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.

Insiders Place Their Bets

In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. Following the completion of the transaction, the director directly owned 3,414,433 shares of the company’s stock, valued at approximately $117,900,371.49. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 220,201 shares of company stock worth $5,438,310 in the last 90 days. Insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors and hedge funds have recently modified their holdings of NEGG. NewEdge Advisors LLC bought a new stake in Newegg Commerce during the 3rd quarter worth approximately $30,000. Royal Bank of Canada lifted its stake 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 in the last quarter. Bank of America Corp DE lifted its stake in 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 valued at $175,000 after buying an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Newegg Commerce in the third quarter valued at approximately $207,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce in the fourth quarter valued at approximately $251,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

Newegg Commerce Company Profile

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.