Chegg (NYSE:CHGG) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

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 $1.66 and traded as low as $0.77. Chegg shares last traded at $0.78, with a volume of 2,463,855 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Chegg in a research note on Tuesday, February 25th. Piper Sandler dropped their price objective on shares of Chegg from $1.50 to $1.00 and set an “underweight” rating for the company in a research note 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 research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.08.

Chegg Trading Up 0.3 %

The company’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31. The firm has a market cap of $78.73 million, a P/E ratio of -0.09 and a beta of 1.52.

Institutional Investors Weigh In On Chegg

Several large investors have recently made changes to their positions in CHGG. Public Employees Retirement System of Ohio grew its holdings in Chegg by 54.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 99,256 shares of the technology company’s stock worth $160,000 after acquiring an additional 35,100 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in Chegg during the 4th quarter worth about $28,000. Virtus Investment Advisers Inc. bought a new stake in Chegg during the 4th quarter worth about $479,000. Two Sigma Advisers LP grew its holdings in Chegg by 1.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,088,900 shares of the technology company’s stock worth $3,363,000 after acquiring an additional 22,100 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Chegg by 8.2% during the 4th quarter. Two Sigma Investments LP now owns 2,254,234 shares of the technology company’s stock worth $3,629,000 after acquiring an additional 170,077 shares during the last quarter. 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.