Newegg Commerce (NASDAQ:NEGG) Trading Down 14.8% – Time to Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares traded down 14.8% on Tuesday . The company traded as low as $76.00 and last traded at $71.9490. 141,725 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 799,445 shares. The stock had previously closed at $84.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce has a consensus rating of “Sell”.

Newegg Commerce Stock Performance

The company has a 50 day simple moving average of $49.55 and a two-hundred day simple moving average of $35.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Insider Activity at Newegg Commerce

In other news, major shareholder Vladimir Galkin purchased 11,111 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average price of $104.72 per share, with a total value of $1,163,543.92. Following the purchase, the insider owned 3,511,111 shares in the company, valued at $367,683,543.92. This represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Newegg Commerce in the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC acquired a new position in shares of Newegg Commerce during the second quarter worth approximately $64,000. Ritholtz Wealth Management acquired a new position in shares of Newegg Commerce during the third quarter worth approximately $243,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Newegg Commerce during the third quarter worth approximately $1,762,000. Finally, Bank of America Corp DE lifted its holdings in shares of Newegg Commerce by 10,675.0% during the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after buying an additional 10,675 shares during the last quarter. 0.45% of the stock is currently owned by institutional investors and hedge funds.

About Newegg Commerce

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.