Newegg Commerce (NASDAQ:NEGG) Director Sells $650,331.00 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Zhitao He sold 39,414 shares of Newegg Commerce stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $16.50, for a total transaction of $650,331.00. Following the completion of the sale, the director owned 11,101,665 shares in the company, valued at $183,177,472.50. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Newegg Commerce Stock Performance

Shares of NEGG opened at $14.44 on Friday. Newegg Commerce, Inc. has a 12 month low of $12.50 and a 12 month high of $96.29. The firm has a fifty day simple moving average of $15.83 and a 200 day simple moving average of $25.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 1.55.

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

Institutional Trading of Newegg Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in Newegg Commerce in the third quarter valued at $30,000. Royal Bank of Canada increased its stake in shares of 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 purchasing an additional 985 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after purchasing an additional 10,675 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Newegg Commerce in the 3rd quarter valued at about $207,000. Finally, Squarepoint Ops LLC acquired a new stake in Newegg Commerce in the 4th quarter valued at about $251,000. 0.45% of the stock is 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 report on Monday, July 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus 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.