Newegg Commerce (NASDAQ:NEGG) Shares Gap Down – Here’s What Happened
by Michael Walen · The Markets DailyShares of Newegg Commerce, Inc. (NASDAQ:NEGG – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $43.74, but opened at $41.36. Newegg Commerce shares last traded at $38.43, with a volume of 11,406 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newegg Commerce in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newegg Commerce currently has an average rating of “Sell”.
Read Our Latest Stock Report on Newegg Commerce
Newegg Commerce Price Performance
The company’s fifty day moving average is $42.32 and its two-hundred day moving average is $54.10.
Hedge Funds Weigh In On Newegg Commerce
Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake 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 acquiring an additional 985 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce in the fourth quarter worth $251,000. Jane Street Group LLC acquired a new position in shares of Newegg Commerce in the fourth quarter worth $2,042,000. O Shaughnessy Asset Management LLC grew its stake in shares of Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock worth $1,489,000 after acquiring an additional 20,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Newegg Commerce in the fourth quarter worth $490,000. 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.