Newegg Commerce (NASDAQ:NEGG) Shares Gap Up – Time to Buy?

Newegg Commerce, Inc. (NASDAQ:NEGG) shares gapped up before the market opened on Friday . The stock had previously closed at $16.78, but opened at $18.76. Newegg Commerce shares last traded at $18.35, with a volume of 4,387 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Newegg Commerce Trading Up 0.0%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.63 and a current ratio of 1.71. The firm’s 50 day moving average is $29.12 and its 200-day moving average is $44.26.

Newegg Commerce (NASDAQ:NEGG) last announced its quarterly earnings data on Thursday, May 28th. The company reported $999.00 earnings per share (EPS) for the quarter.

Insider Buying and Selling

In related news, Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $34.53, for a total transaction of $690,600.00. Following the completion of the transaction, the director owned 3,414,433 shares of the company’s stock, valued at approximately $117,900,371.49. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 220,134 shares of company stock worth $5,437,213 over the last ninety days. Corporate insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors and hedge funds have recently bought and sold shares of NEGG. Marshall Wace LLP acquired a new position in Newegg Commerce during the second quarter worth approximately $4,281,000. Bank of America Corp DE increased its position in 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 purchasing an additional 10,675 shares during the last quarter. Quantum Private Wealth LLC acquired a new position in Newegg Commerce during the third quarter worth approximately $210,000. BNP Paribas Financial Markets acquired a new position in Newegg Commerce during the third quarter worth approximately $1,603,000. Finally, UBS Group AG increased its position 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 purchasing an additional 53,411 shares during the last quarter. Institutional investors and hedge funds 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.