Chegg Sees Unusually Large Options Volume (NYSE:CHGG)

Chegg, Inc. (NYSE:CHGG - Get Free Report) saw some unusual options trading on Monday. Stock traders acquired 3,305 call options on the stock. This is an increase of 42% compared to the typical volume of 2,321 call options.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Chegg in a research report on Tuesday. Northland Securities decreased their price target on Chegg from $4.00 to $3.00 and set a "market perform" rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group cut their target price on Chegg from $3.75 to $1.75 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Morgan Stanley reaffirmed an "underweight" rating and issued a $1.25 price target (down from $2.00) on shares of Chegg in a report on Tuesday, January 14th. Finally, Craig Hallum reduced their price target on shares of Chegg from $3.00 to $1.50 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.08.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pallas Capital Advisors LLC increased its holdings in shares of Chegg by 60.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,659 shares of the technology company's stock valued at $28,000 after purchasing an additional 6,658 shares in the last quarter. Caprock Group LLC purchased a new position in Chegg in the fourth quarter valued at about $28,000. Virtus Fund Advisers LLC purchased a new stake in shares of Chegg during the 4th quarter worth approximately $28,000. Ieq Capital LLC purchased a new position in Chegg in the 4th quarter valued at approximately $31,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Chegg by 272.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 25,051 shares of the technology company's stock worth $44,000 after purchasing an additional 18,320 shares in the last quarter. Hedge funds and other institutional investors own 95.18% of the company's stock.

Chegg Stock Performance

CHGG traded down $0.05 during trading on Thursday, hitting $0.98. The stock had a trading volume of 6,892,290 shares, compared to its average volume of 3,282,946. Chegg has a twelve month low of $0.94 and a twelve month high of $9.14. The firm has a market capitalization of $103.11 million, a P/E ratio of -0.12 and a beta of 1.41. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.91 and a current ratio of 0.91. The company's 50-day moving average price is $1.52 and its 200 day moving average price is $1.78.

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.