Chegg (NYSE:CHGG) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Chegg, Inc. (NYSE:CHGG) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.05 and traded as low as $0.5618. Chegg shares last traded at $0.5740, with a volume of 453,478 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CHGG shares. Zacks Research lowered shares of Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a research note on Monday, December 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Chegg Trading Down 2.7%

The business’s 50 day simple moving average is $0.73 and its two-hundred day simple moving average is $1.05. The firm has a market capitalization of $62.72 million, a PE ratio of -0.60 and a beta of 1.99.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, February 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $71.00 million. Chegg had a negative return on equity of 18.30% and a negative net margin of 27.44%. As a group, equities research analysts anticipate that Chegg, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Chegg

Several hedge funds and other institutional investors have recently made changes to their positions in CHGG. Jefferies Financial Group Inc. boosted its holdings in shares of 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 buying an additional 11,000 shares during the last quarter. Burford Brothers Inc. grew its holdings in Chegg by 86.2% during the third quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock valued at $39,000 after purchasing an additional 11,944 shares during the period. Spectrum Wealth Advisory Group LLC grew its holdings in Chegg by 36.8% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after purchasing an additional 13,000 shares during the period. Cerity Partners LLC increased its position in Chegg by 38.4% in the second quarter. Cerity Partners LLC now owns 62,579 shares of the technology company’s stock worth $76,000 after buying an additional 17,371 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Chegg in the third quarter worth about $32,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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.