Newegg Commerce (NASDAQ:NEGG) Trading Down 5.9% – Here’s What Happened

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) traded down 5.9% during mid-day trading on Friday . The company traded as low as $16.57 and last traded at $16.83. 31,448 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 79,112 shares. The stock had previously closed at $17.88.

Analyst Ratings Changes

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

Newegg Commerce Stock Down 4.3%

The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $15.91 and a 200-day moving average price of $31.44.

Insider Activity

In related news, Director Fred Faching Chang sold 18,539 shares of Newegg Commerce stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total transaction of $370,780.00. Following the completion of the transaction, the director directly owned 3,104,433 shares of the company’s stock, valued at $62,088,660. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 139,358 shares of company stock worth $2,905,033. Company insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors have recently bought and sold shares of NEGG. Royal Bank of Canada raised its position in Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Newegg Commerce during the fourth quarter worth $251,000. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce in the fourth quarter valued at $2,042,000. O Shaughnessy Asset Management LLC increased its stake in shares of Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after buying an additional 20,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Newegg Commerce in the fourth quarter valued at about $490,000. 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.