SSgA Funds Management, Inc. has recently announced that it has increased stake in Newegg Commerce Inc. (NASDAQ:NEGG) by 493.52%. After grabbing 0.11 million shares, the institutional investor is now in possession of 89011.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 0.03% having worth around $0.19 million. Moreover, Occudo Quantitative Strategies LP increased its share by 0.1 million to have a control over 0.1 million shares. And Jane Street Capital LLC raised its holdings to 92992.0 shares by acquiring 92992.0 shares or 0.03% of the stake.
Newegg Commerce Inc. (NEGG) concluded trading on 01/11/23 at a closing price of $1.47, with 0.52 million shares of worth about $0.76 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -59.05% during that period and on Wednesday the price saw a loss of about -6.96%. Currently the company’s common shares owned by public are about 374.09M shares, out of which, 19.39M shares are available for trading.
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Invesco Golden Dragon China ETF, Fidelity Nasdaq Composite Index F, and SPDR Portfolio Emerging Markets E are the top 3 mutual funds which are holding stakes in Newegg Commerce Inc. Invesco Golden Dragon China ETF is currently holding 0.45 million shares of worth totaling $0.82 million. The company recently came buying 0.0 shares which brought its stake up to 0.12% of the company’s outstanding shares. Fidelity Nasdaq Composite Index F sold 20913.0 shares, after which its hold over company’s outstanding shares shrunk to 0.03%, leaving 0.12 million shares with the mutual fund that have a worth of about $0.22 million. SPDR Portfolio Emerging Markets E, after buying 0.12 million shares, have now control over 0.03% of the stake in the company. It holds 1122.0 shares of worth $0.21 million.
Newegg Commerce Inc. (NASDAQ: NEGG) started trading at $1.56, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 1.6727, or with a loss of -6.96%. Stock saw a price change of 9.70% in past 5 days and over the past one month there was a price change of -11.45%. Year-to-date (YTD), NEGG shares are showing a performance of 12.21% which decreased to -83.22% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.16 but also hit the highest price of $9.31 during that period. The average intraday trading volume for Newegg Commerce Inc. shares is 353.13K. The stock is currently trading 5.60% above its 20-day simple moving average (SMA20), while that difference is down -11.40% for SMA50 and it goes to -58.21% lower than SMA200.
SSgA Funds Management, Inc. acquired 0.11 million shares of Newegg Commerce Inc. having value of about $0.19 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 89011.0 shares in the company valued at close to $130846.17, or have control over 493.52% stake in the company. Newegg Commerce Inc. (NASDAQ: NEGG) currently have 374.09M outstanding shares and institutions hold larger chunk of about 0.60% of that. Holding of mutual funds in the company is about 0.22% while other institutional holders and individual stake holders have control over 0.40% and — of the stake respectively.
The stock has a current market capitalization of $563.98M and its 3Y-monthly beta is at 0.45. It has posted earnings per share of -$0.06 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 0.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NEGG, volatility over the week remained 9.91% while standing at 8.08% over the month.
Analysts are in expectations that Newegg Commerce Inc. (NEGG) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 108.80%.
