Chegg, Inc. (NYSE:CHGG - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 7,233,877 shares, an increase of 19.6% from the March 31st total of 6,049,209 shares. Based on an average trading volume of 1,558,718 shares, the days-to-cover ratio is presently 4.6 days. Currently, 6.7% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CHGG. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Chegg in a research report on Friday, March 27th. Finally, Zacks Research lowered shares of Chegg from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce".
Check Out Our Latest Stock Analysis on Chegg
Chegg Stock Up 7.0%
CHGG stock opened at $1.15 on Thursday. Chegg has a 12 month low of $0.45 and a 12 month high of $1.90. The firm has a market cap of $128.19 million, a P/E ratio of -1.19 and a beta of 1.86. The company's 50-day moving average price is $0.75 and its two-hundred day moving average price is $0.87.
Chegg (NYSE:CHGG - Get Free Report) last released its earnings results on Monday, February 9th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.18. Chegg had a negative net margin of 27.44% and a negative return on equity of 18.30%. The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $71.00 million. Equities analysts predict that Chegg will post -0.31 EPS for the current year.
Hedge Funds Weigh In On Chegg
Several hedge funds have recently bought and sold shares of CHGG. Arrowstreet Capital Limited Partnership increased its holdings in Chegg by 158.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,756,917 shares of the technology company's stock valued at $4,546,000 after buying an additional 2,305,872 shares during the period. AQR Capital Management LLC increased its holdings in Chegg by 95.9% in the 1st quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company's stock valued at $1,925,000 after buying an additional 1,474,640 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Chegg by 23.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,844,804 shares of the technology company's stock valued at $4,506,000 after purchasing an additional 907,080 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Chegg by 227.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 930,177 shares of the technology company's stock valued at $1,405,000 after purchasing an additional 645,874 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Chegg in the 3rd quarter valued at approximately $484,000. 95.18% of the stock is owned by institutional investors.
About Chegg
(
Get Free Report)
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.
Further Reading
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