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 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 owned 11,101,665 shares of the company’s stock, valued at $183,177,472.50. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Newegg Commerce Price Performance

Shares of NASDAQ NEGG opened at $15.06 on Thursday. Newegg Commerce, Inc. has a 52-week low of $12.50 and a 52-week high of $96.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64. The business has a fifty day moving average of $15.84 and a two-hundred day moving average of $25.92.

Newegg Commerce (NASDAQ:NEGG) last posted its earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.51. The firm had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its holdings in shares of Newegg Commerce by 234.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock worth $1,489,000 after purchasing an additional 20,575 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Newegg Commerce by 39.8% in the fourth quarter. Geode Capital Management LLC now owns 17,674 shares of the company’s stock valued at $897,000 after buying an additional 5,028 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Newegg Commerce in the third quarter valued at about $1,343,000. Millennium Management LLC bought a new position in shares of Newegg Commerce in the third quarter valued at about $981,000. Finally, Bank of America Corp DE lifted its position in Newegg Commerce by 115.9% during the 3rd quarter. Bank of America Corp DE now owns 23,262 shares of the company’s stock worth $976,000 after buying an additional 12,487 shares in the last quarter. Institutional investors and hedge funds own 0.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

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.