Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $58,744.80 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 3,582 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $16.40, for a total value of $58,744.80. Following the completion of the sale, the director directly owned 3,073,687 shares in the company, valued at approximately $50,408,466.80. This trade represents a 0.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fred Faching Chang also recently made the following trade(s):

• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The stock was sold at an average price of $16.77, for a total value of $395,470.14.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Stock Performance

NEGG stock opened at $15.32 on Monday. The company has a 50-day simple moving average of $15.91 and a 200 day simple moving average of $26.68. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21. 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 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.51. The company had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce has an average rating of “Sell”.

Institutional Trading of Newegg Commerce

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