Newegg Commerce (NASDAQ:NEGG) Trading Up 8.2% – Still a Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) rose 8.2% during trading on Wednesday . The company traded as high as $17.16 and last traded at $17.1450. Approximately 30,009 shares changed hands during trading, a decline of 61% from the average session volume of 77,266 shares. The stock had previously closed at $15.85.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised 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 data from MarketBeat, the company currently has an average rating of “Sell”.

Newegg Commerce Stock Performance

The firm’s 50 day moving average is $15.94 and its two-hundred day moving average is $26.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55.

Newegg Commerce (NASDAQ:NEGG) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51. The firm had revenue of $320.41 million during the quarter, compared to the consensus estimate of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Newegg Commerce during the second quarter valued at approximately $4,281,000. UBS Group AG boosted its stake in Newegg Commerce by 242.0% during the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after acquiring an additional 53,411 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Newegg Commerce in the 4th quarter worth approximately $2,042,000. BNP Paribas Financial Markets bought a new stake in Newegg Commerce in the third quarter worth $1,603,000. Finally, XTX Topco Ltd purchased a new stake in Newegg Commerce during the 3rd quarter valued at about $1,343,000. Institutional investors own 0.45% of the company’s stock.

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.