Chegg, Inc. (NYSE:CHGG) Receives Average Rating of “Strong Sell” from Brokerages

Shares of Chegg, Inc. (NYSE:CHGG) have received an average recommendation of “Strong Sell” from the six ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $1.1250.

CHGG has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a research report on Wednesday, October 8th. Zacks Research cut Chegg from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th.

Chegg Trading Down 4.0%

CHGG opened at $1.09 on Friday. The company has a market cap of $118.56 million, a P/E ratio of -1.51 and a beta of 1.93. The company’s 50 day moving average is $1.35 and its 200-day moving average is $1.28. Chegg has a 1-year low of $0.44 and a 1-year high of $2.73.

Institutional Trading of Chegg

A number of hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. increased its stake in shares of Chegg by 14.2% in the third quarter. Jefferies Financial Group Inc. now owns 88,269 shares of the technology company’s stock valued at $133,000 after buying an additional 11,000 shares during the period. Burford Brothers Inc. boosted its stake in 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 acquiring an additional 11,944 shares in the last quarter. Spectrum Wealth Advisory Group LLC grew its stake in shares of Chegg by 36.8% in the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 48,370 shares of the technology company’s stock valued at $59,000 after buying an additional 13,000 shares during the period. CWM LLC increased its holdings 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 acquiring an additional 14,758 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Chegg by 101.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,861 shares of the technology company’s stock valued at $37,000 after buying an additional 15,549 shares in the last quarter. 95.18% of the stock is owned by institutional investors and hedge funds.

About Chegg

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.