Newegg Commerce (NASDAQ:NEGG) Trading Down 7.2% – Here’s Why

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) traded down 7.2% during mid-day trading on Wednesday . The company traded as low as $48.48 and last traded at $49.2650. 70,885 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 72,922 shares. The stock had previously closed at $53.10.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newegg Commerce currently has an average rating of “Sell”.

Newegg Commerce Trading Down 6.4%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25. The stock’s 50-day moving average is $68.22 and its 200-day moving average is $54.89.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC purchased a new position in Newegg Commerce during the third quarter worth about $30,000. FNY Investment Advisers LLC purchased a new position in shares of Newegg Commerce during the 2nd quarter worth about $64,000. Qube Research & Technologies Ltd purchased a new stake in Newegg Commerce in the third quarter valued at approximately $207,000. Quantum Private Wealth LLC purchased a new position in Newegg Commerce during the third quarter worth approximately $210,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Newegg Commerce in the 3rd quarter valued at $243,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

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.