Chegg Target of Unusually High Options Trading (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGG - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 9,955 call options on the company. This is an increase of 392% compared to the average daily volume of 2,024 call options.

Chegg Stock Down 5.7 %

NYSE:CHGG traded down $0.09 on Thursday, reaching $1.41. 3,153,319 shares of the stock traded hands, compared to its average volume of 2,837,704. 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 company has a market capitalization of $146.55 million, a price-to-earnings ratio of -0.18 and a beta of 1.41. Chegg has a 12 month low of $1.34 and a 12 month high of $9.34. The company's fifty day simple moving average is $1.80 and its 200 day simple moving average is $1.95.

Chegg (NYSE:CHGG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $136.59 million during the quarter, compared to the consensus estimate of $134.12 million. Chegg had a negative net margin of 124.05% and a positive return on equity of 2.36%. The firm's quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Equities analysts predict that Chegg will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on CHGG shares. The Goldman Sachs Group cut their price objective on Chegg from $3.75 to $1.75 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research note on Thursday, January 16th. Northland Securities decreased their price objective on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a report on Wednesday, November 13th. Piper Sandler dropped their target price on shares of Chegg from $2.00 to $1.50 and set an "underweight" rating on the stock in a report on Thursday, November 14th. Finally, Craig Hallum decreased their price target on shares of Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Chegg has a consensus rating of "Hold" and an average price target of $4.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caprock Group LLC bought a new stake in Chegg in the 4th quarter worth about $28,000. Pallas Capital Advisors LLC grew its stake 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 worth $28,000 after acquiring an additional 6,658 shares during the period. Ieq Capital LLC purchased a new position in shares of Chegg during the fourth quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Chegg by 272.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock valued at $44,000 after purchasing an additional 18,320 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Chegg in the third quarter worth approximately $56,000. Hedge funds and other 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.