Chegg, Inc. (NYSE:CHGG - Get Free Report) saw some unusual options trading activity on Monday. Stock traders bought 3,305 call options on the company. This is an increase of approximately 42% compared to the typical daily volume of 2,321 call options.
Chegg Price Performance
NYSE CHGG traded up $0.13 on Friday, reaching $1.10. The company's stock had a trading volume of 4,038,125 shares, compared to its average volume of 3,304,513. Chegg has a 52 week low of $0.94 and a 52 week high of $9.14. 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 firm has a market cap of $115.09 million, a PE ratio of -0.14 and a beta of 1.41. The business has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.78.
Hedge Funds Weigh In On Chegg
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC raised its stake in Chegg by 60.5% during 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 in the last quarter. Intech Investment Management LLC lifted its holdings in Chegg by 30.1% during the 4th quarter. Intech Investment Management LLC now owns 41,164 shares of the technology company's stock valued at $66,000 after purchasing an additional 9,514 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Chegg by 51.2% during the 4th quarter. ProShare Advisors LLC now owns 28,360 shares of the technology company's stock valued at $46,000 after purchasing an additional 9,600 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Chegg by 41.8% during the 4th quarter. Hsbc Holdings PLC now owns 50,206 shares of the technology company's stock valued at $81,000 after purchasing an additional 14,801 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Chegg by 26.4% in the third quarter. Harbor Capital Advisors Inc. now owns 72,709 shares of the technology company's stock valued at $129,000 after buying an additional 15,180 shares in the last quarter. Institutional investors own 95.18% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on CHGG shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a report on Tuesday. The Goldman Sachs Group lowered their price target on Chegg from $3.75 to $1.75 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Northland Securities cut their price objective on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a research report on Wednesday, November 13th. Craig Hallum lowered their target price on Chegg from $3.00 to $1.50 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler dropped their price target on Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $2.08.
Read Our Latest Stock Report on CHGG
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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