Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 13,582 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 13,582 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $15.62, for a total value of $212,150.84. Following the sale, the director owned 3,060,105 shares of the company’s stock, valued at approximately $47,798,840.10. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Fred Faching Chang also recently made the following trade(s):

• On Thursday, September 3rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.40, for a total value of $58,744.80.
• On Wednesday, September 2nd, Fred Chang sold 23,582 shares of Newegg Commerce stock. The shares were sold at an average price of $16.77, for a total value of $395,470.14.
• On Tuesday, September 1st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $15.87, for a total value of $56,846.34.

Newegg Commerce Stock Performance

Shares of NEGG traded down $0.15 during midday trading on Tuesday, reaching $15.17. 59,065 shares of the stock were exchanged, compared to its average volume of 77,668. Newegg Commerce, Inc. has a 12-month low of $12.50 and a 12-month high of $96.29. The firm has a 50 day simple moving average of $15.88 and a 200-day simple moving average of $26.43. The company has a quick ratio of 0.64, a current ratio of 1.55 and a debt-to-equity ratio of 0.21.

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

Analysts Set New Price Targets

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 research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new position in Newegg Commerce during the third quarter valued at approximately $30,000. Royal Bank of Canada boosted its holdings in shares of Newegg Commerce by 5,472.2% during the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after buying an additional 985 shares during the period. Squarepoint Ops LLC acquired a new position in Newegg Commerce in the 4th quarter valued at $251,000. Qube Research & Technologies Ltd bought a new position in Newegg Commerce in the 3rd quarter worth $207,000. Finally, Goldman Sachs Group Inc. acquired a new position in Newegg Commerce during the 4th quarter worth $490,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

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.