Ready to Jump After Recent Trade: Newegg Commerce Inc. (NEGG)

Newegg Commerce Inc. (NASDAQ: NEGG) stock jumped 1.13% on Monday to $1.79 against a previous-day closing price of $1.77. With 1.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.9 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $1.9600 whereas the lowest price it dropped to was $1.7400. The 52-week range on NEGG shows that it touched its highest point at $9.19 and its lowest point at $1.16 during that stretch. Beta for the stock currently stands at 0.47.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NEGG was down-trending over the past week, with a drop of -13.53%, but this was up by 31.62% over a month. Three-month performance dropped to -15.76% while six-month performance fell -50.14%. The stock lost -75.58% in the past year, while it has gained 36.64% so far this year.


Float and Shares Shorts:

At present, 374.09 million NEGG shares are outstanding with a float of 19.39 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.83 million, which was 0.75% higher than short shares on Sep 14, 2022. In addition to Mr. Anthony K. Chow as the firm’s CEO & Director, Mr. Fred Faching Chang serves as its Co-Founder & Vice Chairman.

Institutional Ownership:

Through their ownership of 0.61% of NEGG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 0.39% of NEGG, in contrast to 0.23% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in NEGG with 0.23% of the stake, Penserra Capital Management LLC holds 847,225 shares worth 847,225. A second-largest stockholder of NEGG, Invesco Capital Management LLC, holds 517,803 shares, controlling over 0.14% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in NEGG, holding 226,367 shares or 0.06% stake. With a 0.13% stake in NEGG, the Invesco Golden Dragon China ETF is the largest stakeholder. A total of 468,251 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.03% of NEGG stock, is the second-largest Mutual Fund holder. It holds 123,193 shares valued at 0.16 million. SPDR Portfolio Emerging Markets E holds 0.03% of the stake in NEGG, owning 119,453 shares worth 0.16 million.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEGG since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NEGG analysts setting a high price target of $44.00 and a low target of $44.00, the average target price over the next 12 months is $44.00. Based on these targets, NEGG could surge 2358.1% to reach the target high and rise by 2358.1% to reach the target low. Reaching the average price target will result in a growth of 2358.1% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NEGG will report FY 2012 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of $8.80 being high and $8.80 being low. For NEGG, this leads to a yearly average estimate of $8.80. Based on analyst estimates, the high estimate for the next quarter is $2.40 and the low estimate is $2.40. The average estimate for the next quarter is thus $2.40.

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