Chegg's (CHGG) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Chegg's stock has been reaffirmed with a "sell (E+)" rating by Weiss Ratings, indicating ongoing concerns about the company's performance.
• Zacks Research has downgraded Chegg from a "strong-buy" rating to a "hold" rating, contributing to a negative sentiment around the stock.
• The company has a current share price of $1.40, with a market capitalization of $151.12 million and significant fluctuation in its valuation over the past year.

Chegg (NYSE:CHGG - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Separately, Zacks Research downgraded Chegg from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $1.70.

Chegg Price Performance

CHGG stock traded up $0.02 on Friday, reaching $1.40. 827,490 shares of the company were exchanged, compared to its average volume of 2,843,980. Chegg has a 12 month low of $0.44 and a 12 month high of $2.73. The firm has a market capitalization of $151.12 million, a PE ratio of -0.53 and a beta of 1.90. The stock's fifty day moving average price is $1.44 and its 200 day moving average price is $1.21.

Institutional Trading of Chegg

A number of large investors have recently bought and sold shares of the stock. Cerity Partners LLC boosted its position in Chegg by 226.6% in 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 in the last quarter. Wealthfront Advisers LLC raised its position in Chegg by 586.4% in the 1st quarter. Wealthfront Advisers LLC now owns 63,885 shares of the technology company's stock valued at $41,000 after purchasing an additional 54,578 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Chegg in the 1st quarter valued at $387,000. Baader Bank Aktiengesellschaft raised its position in Chegg by 99.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 600,001 shares of the technology company's stock valued at $384,000 after purchasing an additional 299,428 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its position in Chegg by 382.9% in the 1st quarter. Jefferies Financial Group Inc. now owns 77,269 shares of the technology company's stock valued at $49,000 after purchasing an additional 61,269 shares during the last quarter. 95.18% of the stock is currently owned by institutional investors.

Chegg Company Profile

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.

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