Newegg Commerce (NASDAQ:NEGG) Shares Gap Down – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $55.32, but opened at $52.77. Newegg Commerce shares last traded at $48.6730, with a volume of 125,537 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Newegg Commerce presently has an average rating of “Sell”.

Newegg Commerce Stock Up 5.7%

The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $60.26 and its 200 day moving average is $57.43.

Institutional Investors Weigh In On Newegg Commerce

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of Newegg Commerce during the third quarter valued at $30,000. FNY Investment Advisers LLC purchased a new stake in Newegg Commerce during the second quarter valued at about $64,000. Bank of America Corp DE boosted 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 worth $175,000 after buying an additional 10,675 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Newegg Commerce in the third quarter worth approximately $207,000. Finally, Quantum Private Wealth LLC acquired a new stake in shares of Newegg Commerce during the third quarter valued at approximately $210,000. 0.45% of the stock is owned by institutional investors and hedge funds.

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.