Chegg (NYSE:CHGG) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Chegg (NYSE:CHGG - Get Free Report) in a research note issued on Thursday. The firm set a "hold" rating on the technology company's stock.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Chegg in a report on Tuesday, April 8th. Morgan Stanley reissued an "underweight" rating and issued a $1.25 target price (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Finally, Piper Sandler lowered their price objective on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.08.

Chegg Price Performance

NYSE CHGG traded up $0.00 on Thursday, reaching $0.51. The company had a trading volume of 1,454,586 shares, compared to its average volume of 3,831,233. The stock has a market capitalization of $53.08 million, a PE ratio of -0.06 and a beta of 1.81. Chegg has a 12 month low of $0.44 and a 12 month high of $7.22. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm's 50 day moving average price is $0.85 and its 200 day moving average price is $1.44.

Institutional Investors Weigh In On Chegg

Several institutional investors have recently made changes to their positions in the company. Virtus Fund Advisers LLC bought a new position in Chegg during the 4th quarter valued at about $28,000. Caprock Group LLC purchased a new position in shares of Chegg during the fourth quarter valued at approximately $28,000. Pallas Capital Advisors LLC grew its stake in shares of Chegg by 60.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after buying an additional 6,658 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Chegg in the fourth quarter worth approximately $31,000. Finally, ProShare Advisors LLC lifted its stake in shares of Chegg by 51.2% during the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock worth $46,000 after acquiring an additional 9,600 shares during the last quarter. Institutional investors own 95.18% of the company's stock.

About Chegg

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.