Newegg Commerce (NASDAQ:NEGG) Director Sells $31,951.44 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 3,582 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $8.92, for a total value of $31,951.44. Following the completion of the transaction, the director owned 2,815,015 shares of the company’s stock, valued at $25,109,933.80. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 11th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $8.61, for a total transaction of $30,841.02.
• On Wednesday, November 4th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.73, for a total transaction of $34,852.86.
• On Monday, November 2nd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.92, for a total transaction of $35,533.44.
• On Friday, October 30th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.77, for a total transaction of $34,996.14.
• On Wednesday, October 28th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $9.78, for a total transaction of $35,031.96.
• On Monday, October 26th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.49, for a total transaction of $33,993.18.
• On Friday, October 23rd, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $9.85, for a total transaction of $35,282.70.
• On Wednesday, October 21st, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $10.64, for a total transaction of $38,112.48.
• On Monday, October 19th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The shares were sold at an average price of $10.71, for a total transaction of $38,363.22.
• On Friday, October 16th, Fred Chang sold 3,582 shares of Newegg Commerce stock. The stock was sold at an average price of $11.13, for a total transaction of $39,867.66.

Newegg Commerce Stock Performance

Shares of NEGG traded up $0.18 during midday trading on Friday, hitting $8.83. 23,205 shares of the company traded hands, compared to its average volume of 34,690. The firm has a 50 day moving average of $11.65 and a 200-day moving average of $24.63. Newegg Commerce, Inc. has a 52 week low of $8.26 and a 52 week high of $80.00. 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 issued its quarterly earnings data on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.51. The firm had revenue of $320.41 million for the quarter, compared to analysts’ expectations of $439.20 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Newegg Commerce in a report on Friday, October 9th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newegg Commerce

A hedge fund recently bought a new position in Newegg Commerce stock. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce, Inc. (NASDAQ:NEGG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 63,109 shares of the company’s stock, valued at approximately $833,000. Marshall Wace LLP owned approximately 0.17% of Newegg Commerce as of its most recent SEC filing. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Newegg Commerce

Newegg Commerce, Inc. operates Newegg, an online retailer specializing in computer hardware, consumer electronics and related technology products. Its offerings include computer components, laptops, gaming products, peripherals, networking equipment and other consumer goods. The company also serves third-party sellers through its online marketplace and provides services such as product fulfillment and advertising. Newegg was founded in 2001 and built its reputation among technology enthusiasts and PC builders.