Newegg Commerce (NASDAQ:NEGG) Shares Gap Down After Insider Selling

Newegg Commerce, Inc. (NASDAQ:NEGG) shares gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $20.57, but opened at $19.55. Newegg Commerce shares last traded at $19.0350, with a volume of 19,155 shares trading hands.

Specifically, Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.66, for a total value of $393,200.00. Following the transaction, the director directly owned 3,246,646 shares of the company’s stock, valued at approximately $63,829,060.36. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fred Faching Chang sold 20,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $22.52, for a total value of $450,400.00. Following the sale, the director owned 3,286,646 shares of the company’s stock, valued at approximately $74,015,267.92. This represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $23.66, for a total value of $473,200.00. Following the transaction, the director owned 3,326,646 shares in the company, valued at $78,708,444.36. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

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

Newegg Commerce News Roundup

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

• Positive Sentiment: Newegg’s latest quarterly results came in better than expected on the bottom line, with EPS of $(0.02) versus the $(0.40) consensus estimate, which may be helping support the shares.
• Neutral Sentiment: The company’s revenue of $374.4 million missed analyst forecasts, so the earnings report was mixed rather than a clean beat.
• Negative Sentiment: Director Fred Faching Chang disclosed multiple stock sales over the past few weeks, including a recent sale of 703 shares and several larger sales totaling tens of thousands of shares, which can weigh on sentiment and raise concerns about insider confidence. Article Title

Newegg Commerce Stock Down 7.5%

The business has a 50-day simple moving average of $36.05 and a two-hundred day simple moving average of $50.98. 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 issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.02) 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.

Hedge Funds Weigh In On Newegg Commerce

A number of institutional investors have recently modified their holdings of NEGG. Marshall Wace LLP bought a new stake in shares of Newegg Commerce during the 2nd quarter worth $4,281,000. UBS Group AG grew its stake in Newegg Commerce by 242.0% in the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after buying an additional 53,411 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Newegg Commerce in the 3rd quarter valued at $1,762,000. Jane Street Group LLC bought a new position in Newegg Commerce in the 4th quarter worth $2,042,000. Finally, BNP Paribas Financial Markets acquired a new position in Newegg Commerce during the 3rd quarter worth $1,603,000. Institutional investors own 0.45% of the company’s stock.

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.