Chegg (NYSE:CHGG) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Chegg, Inc. (NYSE:CHGG) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.01 and traded as low as $0.45. Chegg shares last traded at $0.5502, with a volume of 2,096,145 shares traded.

Analysts Set New Price Targets

CHGG has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a research note on Tuesday, February 10th. Zacks Research downgraded Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Chegg currently has an average rating of “Reduce”.

Chegg Stock Down 2.9%

The company has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.01. The firm has a market cap of $60.12 million, a P/E ratio of -0.57 and a beta of 1.99.

Chegg (NYSE:CHGG) last posted its quarterly earnings data on Monday, February 9th. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. The firm had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $71.00 million. Chegg had a negative return on equity of 18.30% and a negative net margin of 27.44%. As a group, research analysts forecast that Chegg, Inc. will post 0.15 EPS for the current year.

Institutional Trading of Chegg

Several institutional investors and hedge funds have recently modified their holdings of CHGG. Jump Financial LLC bought a new position in Chegg in the 2nd quarter worth $31,000. Qube Research & Technologies Ltd bought a new position in shares of Chegg in the third quarter worth about $32,000. Hudson Bay Capital Management LP bought a new position in shares of Chegg in the second quarter worth about $36,000. Burford Brothers Inc. grew its position in shares of Chegg by 86.2% during the third quarter. Burford Brothers Inc. now owns 25,798 shares of the technology company’s stock worth $39,000 after purchasing an additional 11,944 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Chegg during the fourth quarter worth about $49,000. 95.18% of the stock is currently 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.