Chegg (NYSE:CHGG) Stock Price Passes Below 200-Day Moving Average - What's Next?

Shares of Chegg, Inc. (NYSE:CHGG - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.66 and traded as low as $0.77. Chegg shares last traded at $0.78, with a volume of 2,463,855 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley reiterated an "underweight" rating and issued a $1.25 price target (down from $2.00) on shares of Chegg in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a "hold" rating on shares of Chegg in a research note on Tuesday, February 25th. Finally, Piper Sandler dropped their price target on shares of Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $2.08.

Chegg Price Performance

The firm has a market capitalization of $75.89 million, a price-to-earnings ratio of -0.09 and a beta of 1.52. The company has a fifty day moving average price of $1.26 and a two-hundred day moving average price of $1.63. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31.

Institutional Investors Weigh In On Chegg

Several large investors have recently modified their holdings of the company. Pallas Capital Advisors LLC boosted its holdings in shares of Chegg by 60.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after acquiring an additional 6,658 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Chegg by 30.1% in the fourth quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock valued at $66,000 after acquiring an additional 9,514 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Chegg by 51.2% in the fourth quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock valued at $46,000 after acquiring an additional 9,600 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Chegg by 41.8% in the fourth quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company's stock valued at $81,000 after acquiring an additional 14,801 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of Chegg during the fourth quarter worth $28,000. 95.18% of the stock is owned by institutional investors and hedge funds.

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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.