Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) was down 9% on Tuesday following insider selling activity. The stock traded as low as $13.67 and last traded at $13.35. 3,415 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 76,700 shares. The stock had previously closed at $14.67.
Specifically, Director Fred Chang sold 3,582 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $14.47, for a total transaction of $51,831.54. Following the sale, the director owned 3,030,377 shares in the company, valued at $43,849,555.19. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fred Chang sold 12,564 shares of Newegg Commerce stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $15.13, for a total value of $190,093.32. Following the completion of the transaction, the director owned 3,033,959 shares of the company’s stock, valued at $45,903,799.67. The trade was a 0.41% decrease in their position. The SEC filing for this sale provides additional information. In other news, Director Fred Chang sold 13,582 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $15.18, for a total transaction of $206,174.76. Following the completion of the transaction, the director directly owned 3,046,523 shares of the company’s stock, valued at approximately $46,246,219.14. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.
Newegg Commerce Trading Down 6.9%
The business has a fifty day moving average price of $15.82 and a 200 day moving average price of $25.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.55 and a quick ratio of 0.64.
Newegg Commerce (NASDAQ:NEGG – Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.51. The company had revenue of $320.41 million during the quarter, compared to analysts’ expectations of $439.20 million.
Newegg Commerce Company Profile
Newegg Commerce, Inc operates an e-commerce platform focused on technology products and consumer electronics. Its merchandise includes computer components, laptops, desktop computers, peripherals, networking equipment, software, gaming products, home electronics, appliances and related accessories.
The company serves individual consumers, businesses and technology enthusiasts through its Newegg retail platform and marketplace. In addition to selling products directly, Newegg enables third-party merchants and brands to offer merchandise through its platform and provides services such as fulfillment, advertising and business-to-business purchasing support.
Newegg was founded in 2001 and is headquartered in the City of Industry, California.
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