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

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

Newegg Commerce Trading Down 1.0%

Shares of Newegg Commerce stock traded down $0.15 during trading hours on Tuesday, hitting $15.17. The company’s stock had a trading volume of 59,065 shares, compared to its average volume of 77,668. Newegg Commerce, Inc. has a twelve month low of $12.50 and a twelve month high of $96.29. The firm has a fifty day moving average of $15.88 and a 200-day moving average of $26.43. 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 issued its quarterly earnings data on Thursday, August 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.51. The business had revenue of $320.41 million for the quarter, compared to analyst estimates of $439.20 million.

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 report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newegg Commerce currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Newegg Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in Newegg Commerce in the 2nd quarter valued at about $4,281,000. Bank of America Corp DE boosted its stake 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 during the period. BNP Paribas Financial Markets purchased a new position in shares of Newegg Commerce in the third quarter valued at approximately $1,603,000. UBS Group AG grew its holdings in shares of Newegg Commerce by 242.0% in the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after purchasing an additional 53,411 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Newegg Commerce during the 3rd quarter worth approximately $981,000. 0.45% of the stock is currently owned by hedge funds and other 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.