Chegg (NYSE:CHGG) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Chegg, Inc. (NYSE:CHGG) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.21 and traded as low as $0.7503. Chegg shares last traded at $0.7619, with a volume of 1,688,845 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CHGG shares. Zacks Research downgraded Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chegg in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $1.00.

Chegg Stock Performance

The stock has a 50-day simple moving average of $0.93 and a 200 day simple moving average of $1.21. The stock has a market capitalization of $83.25 million, a P/E ratio of -1.06 and a beta of 1.95.

Institutional Investors Weigh In On Chegg

Several institutional investors have recently modified their holdings of CHGG. Ground Swell Capital LLC bought a new stake in shares of Chegg during the 2nd quarter valued at $27,000. Jump Financial LLC bought a new stake in Chegg in the second quarter valued at about $31,000. Qube Research & Technologies Ltd bought a new stake in Chegg in the third quarter valued at about $32,000. Hudson Bay Capital Management LP acquired a new position in Chegg in the second quarter valued at about $36,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Chegg by 101.5% during the second 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 during 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.