Newegg Commerce (NASDAQ:NEGG) Trading Up 6.6% – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG) shot up 6.6% during trading on Wednesday . The company traded as high as $15.25 and last traded at $14.5860. Approximately 14,619 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 77,593 shares. The stock had previously closed at $13.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of 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, Based on data from MarketBeat, Newegg Commerce has an average rating of “Sell”.

Newegg Commerce Price Performance

The company has a current ratio of 1.71, a quick ratio of 0.63 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $17.30 and a 200 day moving average price of $34.72.

Newegg Commerce (NASDAQ:NEGG) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.38. The firm had revenue of $374.40 million during the quarter, compared to analysts’ expectations of $439.20 million.

Insider Transactions at Newegg Commerce

In related news, Director Fred Faching Chang sold 20,000 shares of the firm’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 sale, the director owned 3,414,433 shares in the company, valued at $117,900,371.49. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 220,201 shares of company stock worth $5,438,310 over the last three months. Corporate insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Newegg Commerce in the second quarter valued at approximately $4,281,000. UBS Group AG raised its position in Newegg Commerce by 242.0% in the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after acquiring an additional 53,411 shares in the last quarter. Jane Street Group LLC acquired a new stake in Newegg Commerce in the fourth quarter valued at $2,042,000. BNP Paribas Financial Markets acquired a new stake in Newegg Commerce in the third quarter valued at $1,603,000. Finally, XTX Topco Ltd purchased a new stake in shares of Newegg Commerce during the 3rd quarter worth $1,343,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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.