Newegg Commerce (NASDAQ:NEGG) Stock Price Up 7.3% – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price rose 7.3% on Thursday . The company traded as high as $58.96 and last traded at $58.5050. Approximately 54,206 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 96,713 shares. The stock had previously closed at $54.54.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Newegg Commerce Stock Performance

The company has a 50 day moving average of $59.20 and a 200 day moving average of $58.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Institutional Trading of Newegg Commerce

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in shares of Newegg Commerce in the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new position in Newegg Commerce in the 2nd quarter worth $64,000. Bank of America Corp DE increased its holdings in 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 purchasing an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Newegg Commerce in the 3rd quarter valued at about $207,000. Finally, Quantum Private Wealth LLC bought a new stake in shares of Newegg Commerce in the third quarter valued at about $210,000. 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.