Newegg Commerce (NASDAQ:NEGG) Trading Down 7% – Time to Sell?

Newegg Commerce, Inc. (NASDAQ:NEGG)’s stock price fell 7% on Wednesday . The company traded as low as $86.29 and last traded at $86.15. 157,276 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 791,889 shares. The stock had previously closed at $92.64.

Analyst Ratings Changes

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

Newegg Commerce Stock 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 business’s fifty day moving average price is $54.07 and its two-hundred day moving average price is $38.79.

Insiders Place Their Bets

In other news, major shareholder Vladimir Galkin acquired 11,111 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were acquired at an average cost of $104.72 per share, with a total value of $1,163,543.92. Following the completion of the acquisition, the insider owned 3,511,111 shares of the company’s stock, valued at approximately $367,683,543.92. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On Newegg Commerce

A number of large investors have recently bought and sold shares of NEGG. XTX Topco Ltd purchased a new position in Newegg Commerce during the 1st quarter worth approximately $55,000. FNY Investment Advisers LLC acquired a new stake in shares of Newegg Commerce in the second quarter worth $64,000. Bank of America Corp DE raised 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. Quantum Private Wealth LLC acquired a new position in Newegg Commerce during the third quarter valued at $210,000. Finally, Ritholtz Wealth Management acquired a new position in Newegg Commerce during the third quarter valued at $243,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Newegg Commerce

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.