Chegg (NYSE:CHGG) Shares Pass Below 200 Day Moving Average – Time to Sell?
by Tristan Rich · The Markets DailyShares of Chegg, Inc. (NYSE:CHGG – Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.07 and traded as low as $0.6236. Chegg shares last traded at $0.6320, with a volume of 877,090 shares trading hands.
Analyst Ratings Changes
A number of analysts recently weighed in on CHGG shares. Zacks Research cut shares of Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Chegg presently has a consensus rating of “Reduce”.
View Our Latest Stock Report on Chegg
Chegg Stock Up 0.8%
The business has a 50-day simple moving average of $0.76 and a two-hundred day simple moving average of $1.06. The stock has a market capitalization of $69.62 million, a price-to-earnings ratio of -0.66 and a beta of 1.99.
Chegg (NYSE:CHGG – Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. Chegg had a negative return on equity of 17.08% and a negative net margin of 27.44%.The company had revenue of $72.66 million for the quarter, compared to the consensus estimate of $71.00 million. On average, analysts forecast that Chegg, Inc. will post 0.15 EPS for the current year.
Institutional Trading of Chegg
Several institutional investors and hedge funds have recently added to or reduced their stakes in CHGG. AQR Capital Management LLC grew its position in Chegg by 95.9% in the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock worth $1,925,000 after buying an additional 1,474,640 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Chegg by 8.5% during the 1st quarter. Empowered Funds LLC now owns 424,563 shares of the technology company’s stock worth $271,000 after acquiring an additional 33,269 shares in the last quarter. Strs Ohio acquired a new stake in shares of Chegg during the first quarter worth $56,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Chegg during the second quarter worth $80,000. Finally, Savant Capital LLC purchased a new stake in shares of Chegg during the second quarter valued at $100,000. 95.18% of the stock is owned by institutional investors and hedge funds.
Chegg Company Profile
Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.
The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.