Chegg (NYSE:CHGG) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Chegg (NYSE:CHGG) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chegg presently has a consensus rating of “Strong Sell” and a consensus target price of $1.00.

Chegg Stock Up 1.0%

CHGG stock opened at $0.87 on Monday. Chegg has a 52 week low of $0.44 and a 52 week high of $1.90. The firm has a market capitalization of $95.39 million, a P/E ratio of -1.21 and a beta of 1.95. The company has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.22.

Hedge Funds Weigh In On Chegg

Several hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. lifted its stake in Chegg by 14.2% in the third quarter. Jefferies Financial Group Inc. now owns 88,269 shares of the technology company’s stock worth $133,000 after purchasing an additional 11,000 shares during the last quarter. Burford Brothers Inc. lifted its stake in shares of Chegg by 86.2% during the 3rd quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock worth $39,000 after acquiring an additional 11,944 shares during the last quarter. Spectrum Wealth Advisory Group LLC lifted its stake in shares of Chegg by 36.8% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock worth $59,000 after acquiring an additional 13,000 shares during the last quarter. CWM LLC boosted its stake in shares of Chegg by 56.2% during the second quarter. CWM LLC now owns 41,022 shares of the technology company’s stock valued at $50,000 after purchasing an additional 14,758 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Chegg by 101.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock worth $37,000 after acquiring an additional 15,549 shares during the period. 95.18% of the stock is currently owned by institutional investors.

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.