Newegg Commerce (NASDAQ:NEGG) Hits New 1-Year Low – Here’s Why

Shares of Newegg Commerce, Inc. (NASDAQ:NEGG) hit a new 52-week low during trading on Tuesday . The company traded as low as $13.50 and last traded at $13.87, with a volume of 50711 shares trading hands. The stock had previously closed at $14.15.

Analysts Set New Price Targets

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

Newegg Commerce Trading Down 2.0%

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 has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $36.38.

Newegg Commerce (NASDAQ:NEGG) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) 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.

Insider Transactions at Newegg Commerce

In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.53, for a total value of $690,600.00. Following the completion of the transaction, the director owned 3,414,433 shares in the company, valued at approximately $117,900,371.49. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 220,201 shares of company stock worth $5,438,310. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of hedge funds have recently made changes to their positions in the business. Clear Street Group Inc. bought a new position in Newegg Commerce in the 3rd quarter worth approximately $856,000. Ritholtz Wealth Management increased its position in Newegg Commerce by 247.3% in the 4th quarter. Ritholtz Wealth Management now owns 20,160 shares of the company’s stock valued at $1,023,000 after acquiring an additional 14,356 shares during the period. Marshall Wace LLP acquired a new stake in Newegg Commerce in the 2nd quarter valued at approximately $4,281,000. Jane Street Group LLC bought a new stake in Newegg Commerce during the 4th quarter valued at $2,042,000. Finally, BNP Paribas Financial Markets acquired a new position in Newegg Commerce during the 3rd quarter worth $1,603,000. 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.