Fred Faching Chang Sells 3,582 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Chang sold 3,582 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $16.40, for a total transaction of $58,744.80. Following the sale, the director directly owned 3,073,687 shares in the company, valued at $50,408,466.80. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction 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 transaction of $56,846.34.

Newegg Commerce Price Performance

NASDAQ NEGG traded down $0.88 during trading hours on Friday, reaching $15.60. The company’s stock had a trading volume of 60,298 shares, compared to its average volume of 77,551. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55. The business has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $26.90. Newegg Commerce, Inc. has a 52 week low of $12.50 and a 52 week high of $96.29.

Newegg Commerce (NASDAQ:NEGG) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.51. The company had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of NEGG. NewEdge Advisors LLC acquired a new position in Newegg Commerce during the 3rd quarter valued at about $30,000. Royal Bank of Canada lifted its stake in shares of Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares during the period. Bank of America Corp DE boosted its holdings in shares of Newegg Commerce by 10,675.0% in the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after acquiring an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Newegg Commerce during the third quarter valued at approximately $207,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce during the fourth quarter valued at approximately $251,000. Institutional investors own 0.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newegg Commerce presently 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.