Chegg, Inc. (NYSE:CHGG) Short Interest Update

Chegg, Inc. (NYSE:CHGGGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 15,680,000 shares, an increase of 5.3% from the February 29th total of 14,890,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 15.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHGG. Sylebra Capital LLC bought a new stake in shares of Chegg in the 3rd quarter worth approximately $61,286,000. Sylebra Capital Ltd lifted its holdings in shares of Chegg by 144.8% in the 2nd quarter. Sylebra Capital Ltd now owns 8,967,899 shares of the technology company’s stock worth $79,635,000 after purchasing an additional 5,305,250 shares during the last quarter. Norges Bank bought a new stake in shares of Chegg in the 4th quarter worth approximately $45,304,000. Dimensional Fund Advisors LP lifted its holdings in shares of Chegg by 81.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,001 shares of the technology company’s stock worth $47,922,000 after purchasing an additional 1,320,462 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Chegg in the 4th quarter worth approximately $12,091,000. Institutional investors own 95.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHGG. The Goldman Sachs Group lowered their target price on Chegg from $8.00 to $7.00 and set a “sell” rating for the company in a research note on Tuesday, February 6th. Piper Sandler Companies lowered Chegg to an “underweight” rating and lowered their price objective for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th. BMO Capital Markets lowered their price objective on Chegg from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lowered their price objective on Chegg from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Piper Sandler lowered Chegg from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $9.00 to $8.50 in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $10.22.

Get Our Latest Analysis on Chegg

Chegg Trading Up 0.7 %

NYSE:CHGG opened at $7.18 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $8.54 and its two-hundred day moving average is $9.30. Chegg has a 52 week low of $7.06 and a 52 week high of $18.77. The company has a market cap of $739.18 million, a PE ratio of -44.88, a P/E/G ratio of 1.49 and a beta of 1.26.

Chegg (NYSE:CHGGGet Free Report) last released its earnings results on Monday, February 5th. The technology company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Chegg had a return on equity of 1.27% and a net margin of 2.54%. The company had revenue of $187.99 million for the quarter, compared to the consensus estimate of $185.94 million. During the same quarter last year, the business posted $0.16 EPS. Chegg’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Chegg will post 0.24 EPS for the current year.

Chegg Company Profile

(Get Free Report)

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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