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

Chegg, Inc. (NYSE:CHGG) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.09 and traded as low as $0.5952. Chegg shares last traded at $0.6430, with a volume of 857,155 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHGG shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Needham & Company LLC reiterated a “hold” rating on shares of Chegg in a report on Tuesday, February 10th. Finally, Zacks Research lowered Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Chegg presently has a consensus rating of “Reduce”.

Chegg Stock Up 2.9%

The stock has a market cap of $70.26 million, a price-to-earnings ratio of -0.67 and a beta of 1.98. The stock has a 50 day simple moving average of $0.80 and a 200 day simple moving average of $1.09.

Chegg (NYSE:CHGG) last issued its earnings results on Monday, February 9th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18. Chegg had a negative return on equity of 17.08% and a negative net margin of 27.44%.The company had revenue of $72.66 million for the quarter, compared to analyst estimates of $71.00 million. Equities analysts expect that Chegg, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Chegg

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. raised its holdings in shares of Chegg by 14.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 88,269 shares of the technology company’s stock worth $133,000 after acquiring an additional 11,000 shares during the last quarter. Burford Brothers Inc. raised 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 worth $39,000 after purchasing an additional 11,944 shares during the last quarter. Spectrum Wealth Advisory Group LLC lifted its holdings in shares of Chegg by 36.8% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after purchasing an additional 13,000 shares in 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 valued at $50,000 after buying an additional 14,758 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Chegg by 53.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock worth $57,000 after buying an additional 16,430 shares in the last quarter. 95.18% of the stock is owned by institutional investors.

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.