Newegg Commerce (NASDAQ:NEGG) Trading Up 18.3% – Still a Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shot up 18.3% on Friday . The company traded as high as $51.80 and last traded at $52.13. 63,566 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 93,367 shares. The stock had previously closed at $44.06.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Newegg Commerce Trading Up 18.9%

The firm has a fifty day moving average of $56.42 and a 200-day moving average of $58.94. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management lifted its holdings in Newegg Commerce by 247.3% in the fourth 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 period. NewEdge Advisors LLC bought a new position in shares of Newegg Commerce during the third quarter worth $30,000. XTX Topco Ltd acquired a new position in Newegg Commerce in the third quarter valued at about $1,343,000. Qube Research & Technologies Ltd bought a new stake in Newegg Commerce during the 3rd quarter worth approximately $207,000. Finally, Millennium Management LLC acquired a new stake in shares of Newegg Commerce during the third quarter worth $981,000. 0.45% of the stock is 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.