Fred Faching Chang Sells 6,944 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 6,944 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.41, for a total value of $176,447.04. Following the sale, the director owned 3,346,646 shares of the company’s stock, valued at approximately $85,038,274.86. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 shares were 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 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 Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The shares were sold at an average price of $30.25, for a total value of $196,110.75.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The shares were sold at an average price of $32.29, for a total transaction 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 transaction 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 transaction 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 transaction of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Trading Down 1.8%

Shares of NEGG opened at $20.21 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. Newegg Commerce, Inc. has a one year low of $4.70 and a one year high of $137.84. The company’s fifty day moving average price is $35.57 and its 200 day moving average price is $50.53.

Newegg Commerce (NASDAQ:NEGG) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Key Newegg Commerce News

Here are the key news stories impacting Newegg Commerce this week:

• Negative Sentiment: Director Fred Faching Chang disclosed multiple share sales between May 4 and May 18, including a 20,000-share sale on May 18 and several other sales earlier in the month. The repeated insider selling may be viewed as a bearish signal for Newegg Commerce. SEC filing
• Neutral Sentiment: Chang still holds a very large stake in Newegg Commerce, so despite the recent selling, he remains heavily invested in the company. SEC filing
• Neutral Sentiment: Newegg recently reported quarterly EPS of -$0.02, beating expectations, but revenue came in below consensus. That mixed earnings result may be limiting any upside response from investors. MarketBeat earnings summary
• Neutral Sentiment: Weiss Ratings recently changed its view on Newegg Commerce from “sell (e+)” to “sell (d-)”, which is still a bearish rating but slightly less negative than before. Weiss Ratings

Institutional Trading of Newegg Commerce

A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares during the period. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth about $251,000. Jane Street Group LLC acquired a new position in shares of Newegg Commerce during the fourth quarter valued at about $2,042,000. O Shaughnessy Asset Management LLC raised its position in shares of Newegg Commerce by 234.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after buying an additional 20,575 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Newegg Commerce in the fourth quarter valued at about $490,000. 0.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Newegg Commerce Company Profile

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.