Chegg (NYSE:CHGG) Stock Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.53 and traded as low as $0.45. Chegg shares last traded at $0.52, with a volume of 4,177,499 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler lowered their target price on 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 restated an "underweight" rating and set a $1.25 price objective (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Chegg in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Chegg presently has an average rating of "Hold" and an average target price of $2.08.

Chegg Stock Up 6.2 %

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $51.61 million, a P/E ratio of -0.06 and a beta of 1.81. The stock has a fifty day moving average price of $0.94 and a two-hundred day moving average price of $1.48.

Institutional Trading of Chegg

Institutional investors have recently added to or reduced their stakes in the business. Voss Capital LP acquired a new stake in shares of Chegg during the 4th quarter worth approximately $2,874,000. Knightsbridge Asset Management LLC bought a new position in Chegg during the 4th quarter worth $2,055,000. Arrowstreet Capital Limited Partnership increased its position in Chegg by 247.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,464,022 shares of the technology company's stock worth $2,357,000 after buying an additional 1,042,136 shares during the period. Quinn Opportunity Partners LLC lifted its stake in 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 buying an additional 941,410 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Chegg by 35.7% during the fourth quarter. Millennium Management LLC now owns 1,874,158 shares of the technology company's stock valued at $3,017,000 after acquiring an additional 492,902 shares during the period. Institutional investors own 95.18% of the company's stock.

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.