Chegg (NYSE:CHGG) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Chegg, Inc. (NYSE:CHGG)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.29 and traded as low as $0.90. Chegg shares last traded at $0.9425, with a volume of 2,128,343 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Zacks Research raised shares of Chegg from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $1.13.

Chegg Stock Up 4.0%

The firm has a fifty day moving average of $1.05 and a 200-day moving average of $1.29. The firm has a market cap of $102.99 million, a P/E ratio of -1.31 and a beta of 1.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ground Swell Capital LLC bought a new stake in Chegg in the second quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new position in shares of Chegg during the 1st quarter worth approximately $28,000. Jump Financial LLC bought a new stake in Chegg in the 2nd quarter valued at $31,000. CW Advisors LLC acquired a new stake in Chegg during the 1st quarter valued at $32,000. Finally, Qube Research & Technologies Ltd bought a new position in Chegg during the third quarter worth $32,000. Institutional investors own 95.18% of the company’s stock.

About Chegg

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.