Newegg Commerce (NASDAQ:NEGG) Stock Price Down 7% – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price traded down 7% on Wednesday . The company traded as low as $86.29 and last traded at $86.15. 157,276 shares were traded during mid-day trading, a decline of 80% from the average session volume of 791,889 shares. The stock had previously closed at $92.64.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Newegg Commerce Price Performance

The company has a 50-day moving average of $54.07 and a 200 day moving average of $38.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Insider Activity at Newegg Commerce

In other Newegg Commerce news, major shareholder Vladimir Galkin purchased 11,111 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the purchase, the insider owned 3,511,111 shares in the company, valued at approximately $367,683,543.92. This represents a 0.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 22.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NEGG. Quantum Private Wealth LLC purchased a new stake in shares of Newegg Commerce in the third quarter valued at approximately $210,000. Hussman Strategic Advisors Inc. purchased a new position in Newegg Commerce during the third quarter worth approximately $1,762,000. Ritholtz Wealth Management acquired a new position in Newegg Commerce during the third quarter worth $243,000. Bank of America Corp DE grew its holdings in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after buying an additional 10,675 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Newegg Commerce in the 2nd quarter worth $4,281,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

About Newegg Commerce

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.