Chegg, Inc. (NYSE:CHGG) Given Average Recommendation of “Reduce” by Analysts

Chegg, Inc. (NYSE:CHGG) has been given an average rating of “Reduce” by the nine research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $1.70.

Several research analysts recently issued reports on the company. Zacks Research cut Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Wednesday, October 8th.

Chegg Price Performance

Shares of CHGG stock opened at $1.28 on Wednesday. The company has a market capitalization of $138.66 million, a P/E ratio of -0.49 and a beta of 1.90. The company’s 50-day simple moving average is $1.42 and its two-hundred day simple moving average is $1.19. Chegg has a one year low of $0.44 and a one year high of $2.73.

Institutional Investors Weigh In On Chegg

Hedge funds have recently modified their holdings of the business. Ground Swell Capital LLC bought a new position in shares of Chegg during the second quarter valued at approximately $27,000. Jump Financial LLC purchased a new stake in Chegg during the second quarter worth $31,000. Hudson Bay Capital Management LP bought a new stake in Chegg during the 2nd quarter valued at $36,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Chegg by 101.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock valued at $37,000 after acquiring an additional 15,549 shares during the period. Finally, CWM LLC raised its position in shares of Chegg by 56.2% in the 2nd 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. Hedge funds and other institutional investors own 95.18% of the company’s stock.

About Chegg

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.