Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of “Reduce” by Brokerages

Chegg, Inc. (NYSE:CHGG) has been given an average rating of “Reduce” by the six research firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $1.1250.

CHGG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a research note on Monday, December 22nd. Zacks Research raised Chegg from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th.

Chegg Price Performance

Chegg stock opened at $1.00 on Monday. The company has a market capitalization of $108.83 million, a PE ratio of -1.38 and a beta of 1.99. The business has a 50 day simple moving average of $1.02 and a 200 day simple moving average of $1.26. Chegg has a one year low of $0.44 and a one year high of $1.90.

Hedge Funds Weigh In On Chegg

Several hedge funds have recently bought and sold shares of the company. Ground Swell Capital LLC bought a new stake in Chegg during the second quarter worth $27,000. Quantbot Technologies LP acquired a new position in Chegg in the 1st quarter valued at approximately $28,000. Jump Financial LLC acquired a new position in Chegg during the 2nd quarter worth about $31,000. Qube Research & Technologies Ltd bought a new stake in shares of Chegg in the 3rd quarter valued at $32,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Chegg in the 2nd quarter valued at about $36,000. 95.18% of the stock is owned by institutional investors.

About Chegg

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.