Fred Faching Chang Sells 6,483 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 6,483 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $30.25, for a total value of $196,110.75. Following the completion of the sale, the director directly owned 3,373,590 shares of the company’s stock, valued at approximately $102,051,097.50. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $393,200.00.
• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were 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 transaction of $473,200.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The shares were sold at an average price of $25.41, for a total transaction of $176,447.04.
• 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 Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The stock was 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 shares were 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 shares were sold at an average price of $31.88, for a total value of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The shares were sold at an average price of $33.94, for a total value 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 Stock Down 1.8%

Shares of NASDAQ:NEGG opened at $20.21 on Friday. Newegg Commerce, Inc. has a 52-week low of $4.70 and a 52-week high of $137.84. The company has a 50-day simple moving average of $35.57 and a 200 day simple moving average of $50.53. 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 (NASDAQ:NEGG) last posted its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.38. The business had revenue of $374.40 million for the quarter, compared to analyst estimates of $439.20 million.

Key Stories Impacting Newegg Commerce

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Newegg Commerce

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in Newegg Commerce in the third quarter valued at $30,000. Royal Bank of Canada boosted its stake in Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after acquiring an additional 985 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth about $251,000. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce in the third quarter valued at approximately $207,000. Finally, Quantum Private Wealth LLC acquired a new stake in Newegg Commerce in the 3rd quarter valued at $210,000. 0.45% of the stock is owned by institutional investors.

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.