Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.98 and last traded at $14.15, with a volume of 13928 shares traded. The stock had previously closed at $14.94.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of Newegg Commerce from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Newegg Commerce presently has a consensus rating of “Sell”.
Read Our Latest Analysis on Newegg Commerce
Newegg Commerce Price Performance
Newegg Commerce (NASDAQ:NEGG – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.38. The company had revenue of $374.40 million during the quarter, compared to the consensus estimate of $439.20 million.
Insider Transactions at Newegg Commerce
In other Newegg Commerce news, Director Fred Faching Chang sold 20,000 shares of Newegg Commerce stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. Following the sale, the director owned 3,414,433 shares of the company’s stock, valued at $117,900,371.49. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 220,201 shares of company stock worth $5,438,310. 22.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Newegg Commerce
A number of large investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Newegg Commerce in the second quarter valued at approximately $4,281,000. Bank of America Corp DE increased its stake in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock valued at $175,000 after buying an additional 10,675 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Newegg Commerce during the 3rd quarter worth about $1,603,000. UBS Group AG boosted its stake in shares of Newegg Commerce by 242.0% during the 3rd quarter. UBS Group AG now owns 75,482 shares of the company’s stock worth $3,166,000 after buying an additional 53,411 shares during the last quarter. Finally, Clear Street Group Inc. bought a new position in shares of Newegg Commerce in the 3rd quarter valued at about $856,000. Institutional investors and hedge funds own 0.45% of the company’s stock.
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.
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