Chegg (NYSE:CHGG) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Chegg, Inc. (NYSE:CHGG) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.07 and traded as low as $0.6236. Chegg shares last traded at $0.6320, with a volume of 877,090 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chegg presently has a consensus rating of “Reduce”.

Chegg Stock Down 1.4%

The company has a market capitalization of $69.06 million, a P/E ratio of -0.66 and a beta of 1.99. The business has a fifty day moving average price of $0.77 and a 200 day moving average price of $1.07.

Chegg (NYSE:CHGG) last announced its earnings results on Monday, February 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. Chegg had a negative return on equity of 17.08% and a negative net margin of 27.44%.The business had revenue of $72.66 million for the quarter, compared to analyst estimates of $71.00 million. As a group, equities analysts forecast that Chegg, Inc. will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Chegg by 95.9% in the 1st quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock valued at $1,925,000 after buying an additional 1,474,640 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Chegg by 8.5% in the 1st quarter. Empowered Funds LLC now owns 424,563 shares of the technology company’s stock valued at $271,000 after acquiring an additional 33,269 shares in the last quarter. Strs Ohio acquired a new stake in shares of Chegg in the first quarter valued at about $56,000. CWM LLC raised its holdings in Chegg by 56.2% during the second quarter. CWM LLC now owns 41,022 shares of the technology company’s stock worth $50,000 after acquiring an additional 14,758 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Chegg during the second quarter worth about $80,000. Institutional investors and hedge funds 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.