Chegg, Inc. (NYSE:CHGG) Given Consensus Recommendation of “Reduce” by Brokerages

Chegg, Inc. (NYSE:CHGG) has received a consensus recommendation of “Reduce” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $1.70.

Several research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Chegg in a research report on Wednesday, October 8th. Zacks Research lowered Chegg from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th.

Chegg Price Performance

Shares of NYSE CHGG opened at $1.40 on Wednesday. The business’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.20. Chegg has a 1-year low of $0.44 and a 1-year high of $2.73. The stock has a market capitalization of $151.12 million, a P/E ratio of -0.53 and a beta of 1.90.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CHGG. Cerity Partners LLC boosted its position in shares of Chegg by 226.6% during the first quarter. Cerity Partners LLC now owns 45,208 shares of the technology company’s stock valued at $29,000 after buying an additional 31,366 shares during the period. Wealthfront Advisers LLC increased its holdings in Chegg by 586.4% during the 1st quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company’s stock worth $41,000 after purchasing an additional 54,578 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Chegg during the 1st quarter worth $387,000. Baader Bank Aktiengesellschaft increased its holdings in Chegg by 99.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 600,001 shares of the technology company’s stock worth $384,000 after purchasing an additional 299,428 shares during the period. Finally, Jefferies Financial Group Inc. increased its holdings in Chegg by 382.9% during the 1st quarter. Jefferies Financial Group Inc. now owns 77,269 shares of the technology company’s stock worth $49,000 after purchasing an additional 61,269 shares during the period. Hedge funds and other institutional investors own 95.18% of the company’s stock.

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.