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

Chegg, Inc. (NYSE:CHGG) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.66 and traded as low as $0.77. Chegg shares last traded at $0.78, with a volume of 2,463,855 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler decreased their price objective on Chegg from $1.50 to $1.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 25th. Finally, Morgan Stanley restated an “underweight” rating and issued a $1.25 price objective (down previously from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Chegg presently has an average rating of “Hold” and an average target price of $2.08.

Chegg Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm has a market cap of $82.30 million, a P/E ratio of -0.10 and a beta of 1.52. The business has a fifty day moving average of $1.34 and a 200 day moving average of $1.66.

Hedge Funds Weigh In On Chegg

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd grew its holdings in Chegg by 384.4% during the third quarter. XTX Topco Ltd now owns 394,152 shares of the technology company’s stock worth $698,000 after purchasing an additional 312,780 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Chegg by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,315,187 shares of the technology company’s stock worth $4,099,000 after acquiring an additional 26,574 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chegg by 14.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 118,403 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Chegg by 389.4% during the third quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company’s stock worth $178,000 after acquiring an additional 80,183 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of Chegg during the fourth quarter worth approximately $82,000. Institutional investors own 95.18% of the company’s stock.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.