Newegg Commerce (NASDAQ:NEGG) Hits New 1-Year Low – Should You Sell?

Newegg Commerce, Inc. (NASDAQ:NEGGGet Free Report)’s share price hit a new 52-week low on Monday . The stock traded as low as $12.81 and last traded at $13.3610, with a volume of 59021 shares trading hands. The stock had previously closed at $12.99.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Newegg Commerce presently has a consensus rating of “Sell”.

View Our Latest Report on NEGG

Newegg Commerce Stock Performance

The company’s 50 day moving average price is $17.75 and its 200 day moving average price is $35.26. The company has a quick ratio of 0.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.24.

Newegg Commerce (NASDAQ:NEGGGet Free Report) last announced its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.38. The firm had revenue of $374.40 million for the quarter, compared to analyst estimates of $439.20 million.

Insider Buying and Selling at Newegg Commerce

In other news, Director Fred Faching Chang sold 18,539 shares of Newegg Commerce stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total value of $370,780.00. Following the completion of the transaction, the director owned 3,104,433 shares in the company, valued at approximately $62,088,660. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 220,201 shares of company stock worth $5,438,310 over the last three months. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of NEGG. NewEdge Advisors LLC bought a new position in Newegg Commerce in the 3rd quarter valued at $30,000. Royal Bank of Canada grew its holdings in shares of Newegg Commerce by 5,472.2% during the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after purchasing an additional 985 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Newegg Commerce by 10,675.0% during the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after purchasing an additional 10,675 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Newegg Commerce in the third quarter valued at $207,000. Finally, Squarepoint Ops LLC bought a new position in shares of Newegg Commerce in the fourth quarter valued at about $251,000. 0.45% of the stock is owned by institutional investors and hedge funds.

Newegg Commerce Company Profile

(Get Free Report)

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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