Newegg Commerce (NASDAQ:NEGG) Shares Up 7% – Still a Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares shot up 7% on Wednesday . The stock traded as high as $22.00 and last traded at $21.38. 91,024 shares changed hands during trading, an increase of 12% from the average session volume of 81,527 shares. The stock had previously closed at $19.99.

Analyst Ratings Changes

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

Newegg Commerce Price Performance

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 business’s 50-day simple moving average is $31.52 and its two-hundred day simple moving average is $45.87.

Newegg Commerce (NASDAQ:NEGG) last issued its earnings results on Thursday, May 28th. The company reported $999.00 earnings per share for the quarter.

Insiders Place Their Bets

In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.53, for a total transaction of $690,600.00. Following the completion of the transaction, the director owned 3,414,433 shares in the company, valued at $117,900,371.49. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 220,134 shares of company stock worth $5,437,213 in the last three months. 22.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEGG. Clear Street Group Inc. bought a new position in shares of Newegg Commerce in the third quarter valued at approximately $856,000. Ritholtz Wealth Management boosted its position in shares of Newegg Commerce by 247.3% in the fourth quarter. Ritholtz Wealth Management now owns 20,160 shares of the company’s stock valued at $1,023,000 after acquiring an additional 14,356 shares during the period. Royal Bank of Canada boosted its position in shares of Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after acquiring an additional 985 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Newegg Commerce in the third quarter valued at approximately $207,000. Finally, Squarepoint Ops LLC bought a new position in shares of Newegg Commerce in the fourth quarter valued at approximately $251,000. Institutional investors own 0.45% of the company’s stock.

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.