Chegg, Inc. (NYSE:CHGG - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.61 and traded as low as $0.62. Chegg shares last traded at $0.63, with a volume of 5,733,293 shares changing hands.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CHGG. Morgan Stanley reiterated an "underweight" rating and issued a $1.25 target price (down previously from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Piper Sandler cut their target price on Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.08.
Check Out Our Latest Analysis on CHGG
Chegg Stock Down 4.2 %
The company has a debt-to-equity ratio of 1.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $66.74 million, a P/E ratio of -0.08 and a beta of 1.52. The stock has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.58.
Institutional Investors Weigh In On Chegg
A number of institutional investors and hedge funds have recently modified their holdings of CHGG. Vanguard Group Inc. grew its holdings in shares of Chegg by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 9,765,268 shares of the technology company's stock worth $15,722,000 after purchasing an additional 180,258 shares in the last quarter. Quinn Opportunity Partners LLC grew its position 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 worth $4,637,000 after acquiring an additional 941,410 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chegg by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company's stock valued at $4,099,000 after buying an additional 26,574 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Chegg by 6.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,307,264 shares of the technology company's stock worth $3,715,000 after acquiring an additional 147,441 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Chegg by 8.2% in the 4th quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company's stock valued at $3,629,000 after purchasing an additional 170,077 shares in the last quarter. 95.18% of the stock is owned by hedge funds and other institutional investors.
About Chegg
(
Get Free Report)
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.
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