Fred Faching Chang Sells 20,000 Shares of Newegg Commerce (NASDAQ:NEGG) Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $22.52, for a total transaction of $450,400.00. Following the transaction, the director owned 3,286,646 shares in the company, valued at approximately $74,015,267.92. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $19.66, for a total transaction of $393,200.00.
• 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 stock was 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 transaction of $525,000.00.
• On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The stock was sold at an average price of $30.25, for a total transaction of $196,110.75.
• 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 stock was 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 stock was sold at an average price of $31.88, for a total transaction of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total transaction of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Stock Performance

NEGG stock 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’s 50-day moving average price is $35.57 and its 200 day moving average price is $50.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76.

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

Institutional Trading of Newegg Commerce

Several institutional investors and hedge funds have recently modified their holdings of NEGG. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce in the third quarter valued at about $30,000. Royal Bank of Canada lifted its holdings in shares of Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after purchasing an additional 985 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Newegg Commerce by 10,675.0% in the second 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 in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Newegg Commerce in the third quarter valued at about $207,000. Finally, Quantum Private Wealth LLC purchased a new stake in shares of Newegg Commerce in the third quarter valued at about $210,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Newegg Commerce News Summary

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

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.