Zhitao He Sells 39,414 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Zhitao He sold 39,414 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $16.50, for a total value of $650,331.00. Following the transaction, the director directly owned 11,101,665 shares of the company’s stock, valued at $183,177,472.50. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Newegg Commerce Price Performance

NEGG stock traded down $0.15 during mid-day trading on Tuesday, reaching $15.17. The company had a trading volume of 59,065 shares, compared to its average volume of 77,668. The firm has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $26.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. 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 released its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.51. The firm had revenue of $320.41 million for the quarter, compared to analysts’ expectations of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased 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 purchasing an additional 985 shares during the period. Squarepoint Ops LLC acquired a new position in Newegg Commerce during the fourth quarter worth $251,000. Jane Street Group LLC purchased a new position in Newegg Commerce in the fourth quarter worth $2,042,000. O Shaughnessy Asset Management LLC lifted its holdings in Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after acquiring an additional 20,575 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Newegg Commerce during the 4th quarter worth $490,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of 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.com, the stock presently has a consensus rating of “Sell”.

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.