Newegg Commerce Inc (NASDAQ:NEGG) does about 387.69K shares in volume on a normal day but saw 4398853 shares change hands in the recent trading day. The company now has a market cap of 265.54M USD. Its current market price is $13.69, marking an increase of 31.63% compared to the previous close of $10.40. The 52 week high reached by this stock is $26.40 whilst the lowest price level in 52 weeks is $3.32. The script in recent trading has seen the stock touch a high of $3.5 and a low of $3.5.
1 analysts observing the Newegg Commerce Inc (NEGG) stock have set the 12-month price targets for the company’s shares at between $3.5 and $3.5. The consensus objective for the share price is $60.00, suggesting that the stock has a potential upside of 77.18% over the period. The median price target is -291.14% away from the current levels at $3.5.
FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 06, 2023 when Noble Capital Markets initiated the stock to “Outperform” and issued a price target of $3.50.
The current price level is 101.07%, 163.34%, and 41.12% away from its SMA20, SMA50, and SMA200 respectively, with the NEGG price moving below the 50-day SMA on current market day. Newegg Commerce Inc (NEGG) stock is up 156.13% over the week and 233.09% over the past month. Its price is 72.68% year-to-date and -26.94% over the past year.
Its 12-month price target is $3.5. To reach the target analysts have set, the stock logically needs to grow 77.18 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.5, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $3.5.
Outstanding shares total 19.02M with insiders holding 17.58% of the shares and institutional holders owning 0.44% of the company’s common stock. The beta has a value of 2.33.
