Newegg Commerce (NASDAQ:NEGG) Releases Earnings Results, Beats Expectations By $0.51 EPS

Newegg Commerce (NASDAQ:NEGG – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.40) by $0.51, FiscalAI reports. The company had revenue of $320.41 million during the quarter, compared to analysts’ expectations of $439.20 million.

Newegg Commerce Price Performance

NASDAQ:NEGG traded down $0.33 during midday trading on Thursday, hitting $17.68. 32,056 shares of the company were exchanged, compared to its average volume of 78,258. Newegg Commerce has a fifty-two week low of $12.50 and a fifty-two week high of $96.29. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.63. The company has a fifty day simple moving average of $15.99 and a 200 day simple moving average of $28.37.

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Insider Transactions at Newegg Commerce

In other news, Director Fred Faching Chang sold 18,539 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $20.00, for a total transaction of $370,780.00. Following the completion of the transaction, the director directly owned 3,104,433 shares of the company’s stock, valued at $62,088,660. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 32,414 shares of company stock worth $643,286. Company insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On Newegg Commerce

Several large investors have recently added to or reduced their stakes in NEGG. NewEdge Advisors LLC purchased a new position in Newegg Commerce during the third quarter worth approximately $30,000. Royal Bank of Canada boosted its position in shares of Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after buying an additional 985 shares during the period. Squarepoint Ops LLC acquired a new stake in Newegg Commerce in the fourth quarter valued at approximately $251,000. Qube Research & Technologies Ltd acquired a new stake in Newegg Commerce during the 3rd quarter valued at $207,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Newegg Commerce during the fourth quarter worth about $490,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded 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 data from MarketBeat, Newegg Commerce presently has a consensus rating of “Sell”.

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Newegg Commerce Company Profile

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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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