Newegg Commerce (NASDAQ:NEGG) Announces Quarterly Earnings Results

Newegg Commerce (NASDAQ:NEGG) posted its quarterly earnings data on Thursday. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.51, FiscalAI reports. The business had revenue of $320.41 million during the quarter, compared to analyst estimates of $439.20 million.

Newegg Commerce Trading Down 1.8%

NEGG stock traded down $0.33 during trading hours on Thursday, reaching $17.68. 32,059 shares of the stock were exchanged, compared to its average volume of 78,258. The firm’s 50-day moving average is $15.99 and its 200-day moving average is $28.37. Newegg Commerce has a 12 month low of $12.50 and a 12 month high of $96.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.63.

Insider Activity

In other news, Director Fred Faching Chang sold 18,539 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total value of $370,780.00. Following the sale, the director owned 3,104,433 shares of the company’s stock, valued at $62,088,660. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 32,414 shares of company stock valued at $643,286 in the last 90 days. 22.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newegg Commerce

A number of large investors have recently modified their holdings of NEGG. NewEdge Advisors LLC acquired a new position in Newegg Commerce during the third quarter valued at approximately $30,000. Royal Bank of Canada lifted its stake in shares of Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after buying 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 approximately $251,000. Qube Research & Technologies Ltd bought a new position in Newegg Commerce during the 3rd quarter worth $207,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Newegg Commerce in the 4th quarter worth about $490,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.