Newegg Commerce (NASDAQ:NEGG) Stock Price Up 5.8% – Here’s What Happened

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price rose 5.8% during mid-day trading on Friday . The stock traded as high as $49.50 and last traded at $49.0340. Approximately 26,360 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 102,693 shares. The stock had previously closed at $46.33.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newegg Commerce in a report on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Newegg Commerce presently has an average rating of “Sell”.

Newegg Commerce Stock Up 5.7%

The business has a 50 day moving average of $59.79 and a 200 day moving average of $57.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.52 and a current ratio of 1.25.

Institutional Trading of Newegg Commerce

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in Newegg Commerce during the third quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new position in shares of Newegg Commerce in the 2nd quarter valued at $64,000. Qube Research & Technologies Ltd bought a new stake in shares of Newegg Commerce in the 3rd quarter valued at $207,000. Quantum Private Wealth LLC acquired a new stake in Newegg Commerce during the 3rd quarter worth $210,000. Finally, Ritholtz Wealth Management acquired a new stake in Newegg Commerce during the 3rd quarter worth $243,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

About Newegg Commerce

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.