Fred Faching Chang Sells 6,483 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 6,483 shares of Newegg Commerce stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $30.25, for a total value of $196,110.75. Following the sale, the director directly owned 3,373,590 shares of the company’s stock, valued at approximately $102,051,097.50. This trade represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, May 18th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.66, for a total value of $393,200.00.
• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total value of $450,400.00.
• On Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $23.66, for a total value of $473,200.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The stock was sold at an average price of $25.41, for a total value of $176,447.04.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $26.25, for a total value of $525,000.00.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The stock was sold at an average price of $32.29, for a total value of $22,699.87.
• On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The stock was sold at an average price of $30.10, for a total value of $110,075.70.
• On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $31.88, for a total value of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total value of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total value of $690,600.00.

Newegg Commerce Trading Up 5.5%

NEGG stock traded up $1.07 during mid-day trading on Wednesday, hitting $20.57. 131,778 shares of the stock were exchanged, compared to its average volume of 76,664. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $36.49 and a 200 day moving average price of $51.41. Newegg Commerce, Inc. has a 12 month low of $4.70 and a 12 month high of $137.84.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.38. The firm had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEGG. Marshall Wace LLP purchased a new position in shares of Newegg Commerce in the second quarter worth about $4,281,000. Bank of America Corp DE increased its holdings in Newegg Commerce by 10,675.0% during the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after purchasing an additional 10,675 shares during the period. Ritholtz Wealth Management purchased a new position in Newegg Commerce during the 3rd quarter valued at about $243,000. Hussman Strategic Advisors Inc. purchased a new position in Newegg Commerce during the 3rd quarter valued at about $1,762,000. Finally, Quantum Private Wealth LLC purchased a new position in Newegg Commerce during the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce currently has a consensus rating of “Sell”.

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.