Newegg Commerce (NASDAQ:NEGG) Shares Gap Down – What’s Next?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Newegg Commerce Price Performance

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 has a fifty day moving average price of $61.82 and a 200 day moving average price of $57.60.

Hedge Funds Weigh In On Newegg Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEGG. FNY Investment Advisers LLC acquired a new stake in shares of Newegg Commerce in the second quarter worth $64,000. UBS Group AG lifted 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 worth $3,166,000 after acquiring an additional 53,411 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Newegg Commerce during the 3rd quarter worth about $1,603,000. XTX Topco Ltd acquired a new stake in Newegg Commerce during the 3rd quarter worth about $1,343,000. Finally, Millennium Management LLC purchased a new position in Newegg Commerce during the 3rd quarter valued at about $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.