Newegg Commerce (NASDAQ:NEGG) Director Sells $22,699.87 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 703 shares of Newegg Commerce stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $32.29, for a total transaction of $22,699.87. Following the transaction, the director owned 3,380,073 shares in the company, valued at approximately $109,142,557.17. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total transaction 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 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 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 shares were 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 shares were sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Trading Up 5.5%

Shares of NASDAQ:NEGG traded up $1.07 during trading on Wednesday, reaching $20.57. 131,778 shares of the company traded hands, compared to its average volume of 76,664. The firm has a fifty day simple moving average of $36.49 and a 200 day simple moving average of $51.41. Newegg Commerce, Inc. has a 1-year low of $4.70 and a 1-year high of $137.84. 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 issued its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.38. The company had revenue of $374.40 million for the quarter, compared to analyst estimates of $439.20 million.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. bought a new position in shares of Newegg Commerce during the 3rd quarter worth about $1,762,000. Clear Street Group Inc. bought a new stake in Newegg Commerce in the third quarter valued at about $856,000. Ritholtz Wealth Management increased its stake in Newegg Commerce by 247.3% in the fourth quarter. Ritholtz Wealth Management now owns 20,160 shares of the company’s stock valued at $1,023,000 after acquiring an additional 14,356 shares during the period. Quantum Private Wealth LLC bought a new stake in Newegg Commerce in the third quarter valued at about $210,000. Finally, Bank of America Corp DE increased its stake in Newegg Commerce by 115.9% in the third quarter. Bank of America Corp DE now owns 23,262 shares of the company’s stock valued at $976,000 after acquiring an additional 12,487 shares during the period. Institutional investors own 0.45% of the company’s stock.

Newegg Commerce News Summary

Here are the key news stories impacting Newegg Commerce this week:

• Neutral Sentiment: Newegg Commerce reported a smaller-than-expected revenue figure in its latest quarterly results, even though it beat EPS estimates, leaving mixed signals for traders.
• Negative Sentiment: Director Fred Faching Chang disclosed several stock sales in early May, including a combined reduction of tens of thousands of shares, which may weigh on investor sentiment. SEC filing
• Negative Sentiment: The most recent filing showed Chang sold 20,000 shares at $19.66, adding to the perception of ongoing insider distribution. SEC filing

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.