Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of “Reduce” by Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have earned an average recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1.1250.

Several research analysts have issued reports on CHGG shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chegg in a report on Monday. Zacks Research raised Chegg from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th.

Chegg Price Performance

CHGG stock opened at $0.91 on Thursday. The company’s 50-day moving average is $1.19 and its 200-day moving average is $1.29. The stock has a market capitalization of $99.22 million, a PE ratio of -1.26 and a beta of 1.99. Chegg has a 1 year low of $0.44 and a 1 year high of $2.73.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHGG. Jacobs Levy Equity Management Inc. increased its position in shares of Chegg by 227.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 930,177 shares of the technology company’s stock worth $1,405,000 after acquiring an additional 645,874 shares in the last quarter. Voleon Capital Management LP bought a new position in Chegg in the 3rd quarter valued at about $268,000. Qube Research & Technologies Ltd acquired a new position in Chegg during the 3rd quarter valued at about $32,000. Public Employees Retirement System of Ohio increased its holdings in Chegg by 563.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 75,104 shares of the technology company’s stock worth $113,000 after purchasing an additional 63,790 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in Chegg during the 3rd quarter worth approximately $128,000. 95.18% of the stock is owned by institutional investors.

About Chegg

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.