Newegg Commerce (NASDAQ:NEGG) Trading Up 6.6% – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised 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 data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Newegg Commerce Stock Up 14.4%

The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $17.30 and its two-hundred day moving average price is $34.72.

Newegg Commerce (NASDAQ:NEGG) last posted its earnings results on Tuesday, April 28th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.38. The company had revenue of $374.40 million during the quarter, compared to analysts’ expectations of $439.20 million.

Insider Activity

In other news, Director Fred Faching Chang sold 20,000 shares of Newegg Commerce stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00. Following the sale, the director owned 3,414,433 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 220,201 shares of company stock worth $5,438,310 over the last 90 days. Company insiders own 22.90% of the company’s stock.

Institutional Trading of Newegg Commerce

A number of large investors have recently made changes to their positions in NEGG. Marshall Wace LLP purchased a new stake in Newegg Commerce in the second quarter valued at approximately $4,281,000. UBS Group AG grew its position in shares of Newegg Commerce by 242.0% during the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after acquiring an additional 53,411 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Newegg Commerce during the fourth quarter worth approximately $2,042,000. BNP Paribas Financial Markets acquired a new position in shares of Newegg Commerce in the 3rd quarter valued at $1,603,000. Finally, XTX Topco Ltd purchased a new stake in Newegg Commerce in the 3rd quarter valued at $1,343,000. 0.45% of the stock is 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.