As this happened, Morgan Stanley downgraded its Chegg Inc [CHGG] rating to an Underweight from a an Equal-weight in a research note published on January 14, 2025; the price target was decreased to $1.25 from $2. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in early August from “a Sell” to “a Neutral”. Morgan Stanley also remained covering CHGG and has increased its forecast on July 16, 2024 with a “an Equal-weight” recommendation from previously “an Underweight” rating. Jefferies revised its rating on April 30, 2024. It rated CHGG as “an Underperform” which previously was an “a Hold”.
Price Performance Review of CHGG
On Tuesday, Chegg Inc [NYSE:CHGG] saw its stock fall -7.41% to $1.50. Over the last five days, the stock has lost -15.25%. Chegg Inc shares have fallen nearly -6.83% since the year began. Nevertheless, the stocks have fallen -86.20% over the past one year. While a 52-week high of $11.25 was reached on 01/07/25, a 52-week low of $1.34 was recorded on 01/14/25. SMA at 50 days reached $1.9130, while 200 days put it at $3.0439.
Levels Of Support And Resistance For CHGG Stock
The 24-hour chart illustrates a support level at 1.4267, which if violated will result in even more drops to 1.3534. On the upside, there is a resistance level at 1.5766. A further resistance level may holdings at 1.6532. The Relative Strength Index (RSI) on the 14-day chart is 38.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0126, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.09%. Stochastics %K at 36.71% indicates the stock is a holding.
How much short interest is there in Chegg Inc?
A steep rise in short interest was recorded in Chegg Inc stocks on 2024-12-31, growing by 5582.0 shares to a total of 9.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 9.93 million shares. There was a rise of 0.06%, which implies that there is a positive sentiment for the stock.
