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

Shares of Chegg, Inc. (NYSE:CHGG) crossed 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.

Wall Street Analyst Weigh In

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

Chegg Trading Up 2.9%

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

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

Hedge Funds Weigh In On Chegg

A number of hedge funds have recently made changes to their positions in CHGG. Y Intercept Hong Kong Ltd bought a new stake in Chegg in the second quarter valued at approximately $80,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Chegg by 53.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,333 shares of the technology company’s stock worth $57,000 after purchasing an additional 16,430 shares during the period. Savant Capital LLC bought a new stake in shares of Chegg in the 2nd quarter valued at $100,000. Strs Ohio acquired a new stake in shares of Chegg during the first quarter worth $56,000. Finally, BNP Paribas Financial Markets raised its stake in Chegg by 564.8% during the third quarter. BNP Paribas Financial Markets now owns 34,060 shares of the technology company’s stock worth $51,000 after buying an additional 28,937 shares during the last quarter. 95.18% of the stock is currently 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.