Newegg Commerce (NASDAQ:NEGG) Shares Up 8.2% – Here’s Why

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price was up 8.2% on Wednesday . The stock traded as high as $17.16 and last traded at $17.1450. Approximately 30,009 shares traded hands during trading, a decline of 61% from the average session volume of 77,266 shares. The stock had previously closed at $15.85.

Wall Street Analysts Forecast Growth

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, According to data from MarketBeat, the stock has an average rating of “Sell”.

Newegg Commerce Price Performance

The company has a current ratio of 1.55, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $27.33.

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

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors have recently modified their holdings of NEGG. NewEdge Advisors LLC bought a new position in Newegg Commerce during the third quarter worth about $30,000. Royal Bank of Canada grew its position 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 in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce during the 4th quarter worth approximately $251,000. Qube Research & Technologies Ltd bought a new position in shares of Newegg Commerce during the third quarter worth approximately $207,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Newegg Commerce during the fourth quarter worth approximately $490,000. Institutional investors own 0.45% of the company’s stock.

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.