Chegg Inc (NYSE:CHGG) shares traded -11.37% lower at $3.04 on Wall Street last session.
CHGG stock price is now -43.03% away from the 50-day moving average and -63.61% away from the 200-day moving average. The market capitalization of the company currently stands at $310.75M.
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With the price target reduced from $7 to $4, Jefferies Downgraded its rating from Hold to Underperform for Chegg Inc (NYSE: CHGG). On April 30, 2024, Craig Hallum Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $13 to quote $7, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, Schultz Nathan J., CHIEF OPERATING OFFICER sold 1,350 shares of the company’s stock on Dec 13 ’23. The stock was sold for $14,054 at an average price of $10.41. Upon completion of the transaction, the CHIEF OPERATING OFFICER now directly owns 421,025 shares in the company, valued at $1.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 04 ’23, CHIEF OPERATING OFFICER Schultz Nathan J. sold 630 shares of the business’s stock. A total of $6,382 was realized by selling the stock at an average price of $10.13. This leaves the insider owning 426,802 shares of the company worth $1.3 million. A total of 5.10% of the company’s stock is owned by insiders.
During the past 12 months, Chegg Inc has had a low of $3.35 and a high of $13.11. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 0.92, and a quick ratio of 0.92. The fifty day moving average price for CHGG is $5.2532 and a two-hundred day moving average price translates $8.31985 for the stock.
The latest earnings results from Chegg Inc (NYSE: CHGG) was released for 2024-03-31. The net profit margin was 2.07% and return on equity was 1.48% for CHGG. The company reported revenue of $174.35 million for the quarter, compared to $187.6 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.06 percent.
