Newegg Commerce Inc (NASDAQ:NEGG) price closed higher on Monday, June 09, and jumping 31.63% above its previous close.
A look at the daily price movement shows that the last close reads $10.40. Taking into account the 52-week price action we note that the stock hit a 52-week high of $26.40 and 52-week low of $3.32. The stock added 233.09% on its value in the past month.
Newegg Commerce Inc, which has a market valuation of $265.53 million, is expected to release its quarterly earnings report in July.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give NEGG a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned NEGG a recommendation rating as follows: 0 rate it as a Hold; 1 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Newegg Commerce Inc (NEGG) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that NEGG’s price is at present 101.07% off the SMA20 and 163.34% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 82.10, with weekly volatility standing at 24.95%. The indicator jumps to 18.06% when calculated based on the past 30 days. Newegg Commerce Inc (NASDAQ:NEGG)’s beta value is holding at 2.31, while the average true range (ATR) indicator is currently reading 1.75. Considering analysts have assigned the stock a price target range of $3.5-$3.5 as the low and high respectively, we find the trailing 12-month average consensus price target to be $3.5. Based on this estimate, we see that current price is roughly 74.43% off the estimated low and 74.43% off the forecast high. Investors will no doubt be excited to see the share price rise to $3.5, which is the median consensus price, and at that level NEGG would be 74.43% from current price.
An analysis of the Newegg Commerce Inc (NASDAQ:NEGG) stock in terms of its daily trading volume indicates that the 3-month average is 319.22K.
Current records show that the company has 19.02M in outstanding shares. The insiders’ percentage holdings are 91.53% of outstanding shares while the percentage share held by institutions stands at 0.44%. But the 72.68% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
