Chegg (NYSE:CHGG) Hits New 52-Week Low at $6.95

Shares of Chegg, Inc. (NYSE:CHGG) hit a new 52-week low on Monday . The stock traded as low as $6.95 and last traded at $6.96, with a volume of 275669 shares traded. The stock had previously closed at $7.15.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. StockNews.com raised Chegg from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group reduced their target price on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research note on Tuesday, February 6th. BMO Capital Markets reduced their target price on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. Finally, Piper Sandler Companies cut Chegg to an “underweight” rating and dropped their price target for the stock from $9.00 to $8.50 in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Chegg has an average rating of “Hold” and a consensus target price of $10.22.

Chegg Trading Down 0.9 %

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $9.18. The company has a market capitalization of $701.09 million, a PE ratio of -42.56, a PEG ratio of 1.39 and a beta of 1.26.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 5th. The technology company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $187.99 million during the quarter, compared to analysts’ expectations of $185.94 million. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. Analysts predict that Chegg, Inc. will post 0.26 EPS for the current year.

Institutional Trading of Chegg

Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in shares of Chegg by 79.6% during the 1st quarter. Captrust Financial Advisors now owns 2,012 shares of the technology company’s stock worth $73,000 after purchasing an additional 892 shares during the period. Virtus Fund Advisers LLC purchased a new position in shares of Chegg during the 4th quarter worth $29,000. Point72 Asset Management L.P. purchased a new position in shares of Chegg during the 2nd quarter worth $25,000. AM Squared Ltd purchased a new position in shares of Chegg during the 1st quarter worth $47,000. Finally, Headlands Technologies LLC purchased a new position in shares of Chegg during the 4th quarter worth $48,000. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

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.