Newegg Commerce (NASDAQ:NEGG) Hits New 12-Month Low – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.83 and last traded at $15.1650, with a volume of 35506 shares changing hands. The stock had previously closed at $15.77.

Wall Street Analyst Weigh In

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

Newegg Commerce Trading Down 5.0%

The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $22.88 and its 200-day simple moving average is $38.74.

Newegg Commerce (NASDAQ:NEGG) last issued its earnings results on Thursday, May 28th. The company reported $999.00 EPS for the quarter.

Insider Activity at Newegg Commerce

In related news, Director Fred Faching Chang sold 18,539 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $20.00, for a total value of $370,780.00. Following the completion of the sale, the director owned 3,104,433 shares in the company, valued at approximately $62,088,660. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 220,134 shares of company stock worth $5,437,213 over the last ninety days. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEGG. Marshall Wace LLP acquired a new position in shares of Newegg Commerce during the 2nd quarter worth about $4,281,000. UBS Group AG raised its position in shares of Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after acquiring an additional 53,411 shares during the period. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce in the 4th quarter valued at approximately $2,042,000. BNP Paribas Financial Markets bought a new position in Newegg Commerce during the 3rd quarter worth approximately $1,603,000. Finally, XTX Topco Ltd bought a new position in Newegg Commerce during the 3rd quarter worth approximately $1,343,000. Institutional investors 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.