Newegg Commerce (NASDAQ:NEGG) Issues Earnings Results, Beats Estimates By $0.51 EPS

Newegg Commerce (NASDAQ:NEGG) issued its earnings results on Thursday. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51, FiscalAI reports. The firm had revenue of $320.41 million during the quarter, compared to analyst estimates of $439.20 million.

Newegg Commerce Stock Performance

NASDAQ:NEGG opened at $16.70 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. The firm’s fifty day simple moving average is $15.97 and its 200 day simple moving average is $28.04. Newegg Commerce has a twelve month low of $12.50 and a twelve month high of $96.29.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Fred Faching Chang sold 18,539 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total value of $370,780.00. Following the completion of the sale, the director directly owned 3,104,433 shares in the company, valued at approximately $62,088,660. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 32,414 shares of company stock worth $643,286. 22.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce during the 2nd quarter valued at about $4,281,000. UBS Group AG boosted its holdings in Newegg Commerce by 242.0% in the 3rd 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 period. Jane Street Group LLC purchased a new position in Newegg Commerce in the 4th quarter worth approximately $2,042,000. BNP Paribas Financial Markets purchased 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 in the third quarter valued at approximately $1,343,000. Hedge funds and other 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.