Chegg (NYSE:CHGG) Shares Cross Below 200-Day Moving Average – Should You Sell?

Chegg, Inc. (NYSE:CHGG)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.96 and traded as low as $0.6625. Chegg shares last traded at $0.6720, with a volume of 1,014,819 shares changing hands.

Analysts Set New Price Targets

CHGG has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Chegg in a report on Tuesday, February 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a report on Friday. Finally, Zacks Research cut Chegg from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Chegg Trading Down 1.8%

The stock has a market cap of $73.43 million, a P/E ratio of -0.70 and a beta of 1.99. The stock’s 50-day moving average is $0.65 and its 200-day moving average is $0.96.

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

Institutional Investors Weigh In On Chegg

Institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Chegg during the 2nd quarter valued at $31,000. Qube Research & Technologies Ltd bought a new stake in shares of Chegg in the 3rd quarter worth $32,000. Hudson Bay Capital Management LP bought a new stake in shares of Chegg in the 2nd quarter worth $36,000. Burford Brothers Inc. lifted its holdings in shares of Chegg by 86.2% in the third quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock valued at $39,000 after buying an additional 11,944 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Chegg in the fourth quarter valued at $49,000. 95.18% of the stock is currently 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.