Chegg's (CHGG) Underweight Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Chegg (NYSE:CHGG - Free Report) in a research note released on Tuesday, Marketbeat reports.

A number of other equities analysts have also commented on the stock. Piper Sandler decreased their price objective on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. Morgan Stanley reaffirmed an "underweight" rating and issued a $1.25 target price (down previously from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $2.08.

Chegg Trading Up 6.2 %

Shares of Chegg stock traded up $0.03 on Tuesday, reaching $0.49. 2,883,584 shares of the company were exchanged, compared to its average volume of 3,832,895. Chegg has a fifty-two week low of $0.44 and a fifty-two week high of $7.42. The firm has a market capitalization of $51.61 million, a price-to-earnings ratio of -0.06 and a beta of 1.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The stock has a fifty day moving average price of $0.94 and a 200-day moving average price of $1.48.

Hedge Funds Weigh In On Chegg

Several hedge funds have recently bought and sold shares of the business. Voss Capital LP acquired a new position in shares of Chegg during the 4th quarter valued at about $2,874,000. Knightsbridge Asset Management LLC bought a new stake in Chegg during the fourth quarter worth approximately $2,055,000. Arrowstreet Capital Limited Partnership grew its holdings in Chegg by 247.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock valued at $2,357,000 after purchasing an additional 1,042,136 shares during the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Chegg by 48.6% in the fourth quarter. Quinn Opportunity Partners LLC now owns 2,879,937 shares of the technology company's stock valued at $4,637,000 after purchasing an additional 941,410 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Chegg by 35.7% in the fourth quarter. Millennium Management LLC now owns 1,874,158 shares of the technology company's stock worth $3,017,000 after buying an additional 492,902 shares during the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

Chegg Company Profile

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.