Newegg Commerce (NASDAQ:NEGG) Announces Earnings Results

Newegg Commerce (NASDAQ:NEGG) announced its earnings results on Thursday. The company reported $999.00 EPS for the quarter, Zacks reports.

Newegg Commerce Price Performance

Shares of Newegg Commerce stock opened at $18.61 on Friday. The business has a 50-day moving average of $33.42 and a 200 day moving average of $48.22. Newegg Commerce has a 12 month low of $4.82 and a 12 month high of $137.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 1.41.

Insider Buying and Selling

In other news, Director Fred Faching Chang sold 20,000 shares of Newegg Commerce stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. Following the completion of the transaction, the director owned 3,414,433 shares in the company, valued at approximately $117,900,371.49. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 177,854 shares of company stock worth $4,616,778. Company insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NEGG. Marshall Wace LLP acquired a new position in Newegg Commerce during the 2nd quarter worth approximately $4,281,000. UBS Group AG raised its holdings in shares of Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after purchasing an additional 53,411 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Newegg Commerce during the 4th quarter worth $2,042,000. BNP Paribas Financial Markets purchased a new stake in shares of Newegg Commerce during the 3rd quarter worth $1,603,000. Finally, XTX Topco Ltd acquired a new position in shares of Newegg Commerce during the third quarter worth $1,343,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Newegg Commerce

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.