Chegg (NYSE:CHGG) Lowered to “Hold” Rating by Zacks Research

Chegg (NYSE:CHGG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated 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 three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $1.00.

Chegg Trading Down 6.2%

CHGG stock opened at $0.86 on Monday. The stock’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.23. Chegg has a 12-month low of $0.44 and a 12-month high of $1.90. The firm has a market cap of $94.30 million, a P/E ratio of -1.20 and a beta of 1.95.

Institutional Trading of Chegg

A number of large investors have recently modified their holdings of CHGG. Jefferies Financial Group Inc. lifted its position in Chegg by 14.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 88,269 shares of the technology company’s stock valued at $133,000 after purchasing an additional 11,000 shares during the last quarter. Burford Brothers Inc. increased its stake 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 purchasing an additional 11,944 shares during the period. Spectrum Wealth Advisory Group LLC raised its holdings in shares of Chegg by 36.8% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after buying an additional 13,000 shares during the last quarter. CWM LLC boosted its position in shares of 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 buying an additional 14,758 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Chegg by 101.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock worth $37,000 after buying an additional 15,549 shares in the last quarter. 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.