In the latest trading session, 0.66 million Newegg Commerce Inc (NASDAQ:NEGG) shares changed hands as the company’s beta touched 1.11. With the company’s most recent per share price at $0.86 changed hands at -$0.14 or -14.19% at last look, the market valuation stands at $324.08M. NEGG’s current price is a discount, trading about -259.3% off its 52-week high of $3.09. The share price had its 52-week low at $0.52, which suggests the last value was 39.53% up since then. When we look at Newegg Commerce Inc’s average trading volume, we note the 10-day average is 1.4 million shares, with the 3-month average coming to 480.63K.
Analysts gave the Newegg Commerce Inc (NEGG) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended NEGG as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Newegg Commerce Inc’s EPS for the current quarter is expected to be $0.
Newegg Commerce Inc (NASDAQ:NEGG) trade information
Instantly NEGG was in red as seen in intraday trades today. With action 19.32%, the performance over the past five days has been green. The drop to weekly highs of 1.1100 on Friday, 11/17/23 subtracted -14.19% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.51%, with the 5-day performance at 19.32% in the green. However, in the 30-day time frame, Newegg Commerce Inc (NASDAQ:NEGG) is 40.82% up. Looking at the short shares, we see there were 1.34 million shares sold at short interest cover period of 4.64 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.00, meaning bulls need an upside of 71.33% from its recent market value. According to analyst projections, NEGG’s forecast low is $3.00 with $3.00 as the target high. To hit the forecast high, the stock’s price needs a -248.84% plunge from its current level, while the stock would need to soar -248.84% for it to hit the projected low.
Newegg Commerce Inc (NEGG) estimates and forecasts
Data shows that the Newegg Commerce Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -28.51% over the past 6 months, a 26.67% in annual growth rate that is considerably higher than the industry average of 25.60%. Year-over-year growth is forecast to reach -11.70% down from the last financial year.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 42.14%.
Newegg Commerce Inc is expected to release its next quarterly earnings report on August 29.
Newegg Commerce Inc (NASDAQ:NEGG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 93.30% of Newegg Commerce Inc shares while 0.49% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.37%. There are 0.49% institutions holding the Newegg Commerce Inc stock share, with Geode Capital Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 0.09% of the shares, roughly 0.33 million NEGG shares worth $0.38 million.
Invesco Ltd. holds the second largest percentage of outstanding shares, with 0.09% or 0.35 million shares worth $0.4 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were Invesco ETF Tr-Invesco Golden Dragon China ETF and Fidelity NASDAQ Composite Index ETF. With 0.33 million shares estimated at $0.36 million under it, the former controlled 0.09% of total outstanding shares. On the other hand, Fidelity NASDAQ Composite Index ETF held about 0.06% of the shares, roughly 0.21 million shares worth around $0.18 million.