Newegg Commerce (NASDAQ:NEGG) Announces Earnings Results

Newegg Commerce (NASDAQ:NEGG) announced its earnings results on Thursday. The company reported $999.00 EPS for the quarter, Zacks reports.

Newegg Commerce Stock Down 9.4%

Shares of NASDAQ NEGG traded down $1.75 during midday trading on Thursday, reaching $16.89. The company’s stock had a trading volume of 28,960 shares, compared to its average volume of 76,209. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76. Newegg Commerce has a fifty-two week low of $4.82 and a fifty-two week high of $137.84. The stock has a 50 day simple moving average of $33.80 and a 200-day simple moving average of $48.73.

Insider Transactions at Newegg Commerce

In other news, Director Fred Faching Chang sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $20.14, for a total transaction of $201,400.00. Following the completion of the sale, the director owned 3,176,646 shares in the company, valued at $63,977,650.44. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 177,854 shares of company stock worth $4,616,778 in the last three months. Company insiders own 22.90% of the company’s stock.

Institutional Trading of Newegg Commerce

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in 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 bought a new stake in Newegg Commerce in the 4th quarter valued at about $251,000. Jane Street Group LLC bought a new stake in Newegg Commerce in the 4th quarter valued at about $2,042,000. O Shaughnessy Asset Management LLC grew its position in shares of Newegg Commerce by 234.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock worth $1,489,000 after purchasing an additional 20,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Newegg Commerce during the fourth quarter worth approximately $490,000. 0.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newegg Commerce currently has an average 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.