Newegg Commerce (NASDAQ:NEGG) Trading Down 4.6% – Should You Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price dropped 4.6% during trading on Friday . The company traded as low as $15.75 and last traded at $15.7150. 16,327 shares traded hands during trading, a decline of 79% from the average daily volume of 77,248 shares. The stock had previously closed at $16.48.

Wall Street Analysts Forecast Growth

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

Newegg Commerce Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. The firm’s fifty day moving average price is $15.94 and its 200-day moving average price is $26.90.

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

Institutional Trading of Newegg Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in Newegg Commerce by 234.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock worth $1,489,000 after purchasing an additional 20,575 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Newegg Commerce by 39.8% during the fourth quarter. Geode Capital Management LLC now owns 17,674 shares of the company’s stock worth $897,000 after purchasing an additional 5,028 shares during the period. XTX Topco Ltd acquired a new stake in Newegg Commerce in the 3rd quarter valued at $1,343,000. Millennium Management LLC bought a new stake in Newegg Commerce during the 3rd quarter valued at $981,000. Finally, Bank of America Corp DE raised its holdings in Newegg Commerce by 115.9% during the third quarter. Bank of America Corp DE now owns 23,262 shares of the company’s stock worth $976,000 after buying an additional 12,487 shares during the last quarter. 0.45% of the stock is currently owned by institutional investors.

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.