Newegg Commerce (NASDAQ:NEGG) Hits New 1-Year Low – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.83 and last traded at $15.1650, with a volume of 35506 shares traded. The stock had previously closed at $15.77.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Newegg Commerce Trading Down 5.0%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.63. The business has a 50 day simple moving average of $22.88 and a 200 day simple moving average of $38.74.

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

Insider Buying and Selling

In other Newegg Commerce news, Director Fred Faching Chang sold 18,539 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total value of $370,780.00. Following the completion of the sale, the director owned 3,104,433 shares in the company, valued at approximately $62,088,660. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 220,134 shares of company stock worth $5,437,213. 22.90% of the stock is owned by corporate insiders.

Institutional Trading of Newegg Commerce

Hedge funds have recently modified their holdings of the stock. Clear Street Group Inc. bought a new position in Newegg Commerce in the 3rd quarter worth approximately $856,000. Ritholtz Wealth Management boosted its position in Newegg Commerce by 247.3% in the 4th quarter. Ritholtz Wealth Management now owns 20,160 shares of the company’s stock valued at $1,023,000 after buying an additional 14,356 shares during the last quarter. Millennium Management LLC bought a new position in Newegg Commerce in the 3rd quarter valued at $981,000. O Shaughnessy Asset Management LLC increased its stake in shares of Newegg Commerce by 234.7% in the 4th 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 during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Newegg Commerce in the 3rd quarter valued at $1,603,000. 0.45% of the stock is owned by institutional investors.

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.