Newegg Commerce (NASDAQ:NEGG) Stock Price Down 5.9% – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG) shares dropped 5.9% during trading on Friday . The company traded as low as $16.57 and last traded at $16.83. Approximately 31,448 shares were traded during trading, a decline of 60% from the average session volume of 79,112 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

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

Newegg Commerce Price Performance

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 $15.94 and its 200 day simple moving average is $31.54.

Insider Activity

In other news, Director Fred Faching Chang sold 18,539 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total transaction of $370,780.00. Following the sale, the director owned 3,104,433 shares in the company, valued at $62,088,660. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 139,358 shares of company stock worth $2,905,033 in the last 90 days. 22.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newegg Commerce

Several large investors have recently added to or reduced their stakes in NEGG. NewEdge Advisors LLC acquired a new stake in Newegg Commerce in the 3rd quarter worth about $30,000. Royal Bank of Canada increased its stake in shares of Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after acquiring an additional 985 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after acquiring an additional 10,675 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Newegg Commerce during the 3rd quarter worth about $207,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Newegg Commerce in the fourth quarter worth approximately $251,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

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.