Notable Reporting: Will Chegg Inc Short Squeeze Soon?

Notable Reporting: Will Chegg Inc Short Squeeze Soon?

The stock of Chegg Inc (NYSE:CHGG) is a huge mover today! About 1.24M shares traded hands or 121.05% up from the average. Chegg Inc (NYSE:CHGG) has risen 57.94% since April 6, 2016 and is uptrending. It has outperformed by 55.99% the S&P500.
The move comes after 5 months negative chart setup for the $654.98M company. It was reported on Nov, 8 by Barchart.com. We have $6.39 PT which if reached, will make NYSE:CHGG worth $45.85M less.

Chegg Inc (NYSE:CHGG) Ratings Coverage

Out of 9 analysts covering Chegg Inc (NYSE:CHGG), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Chegg Inc has been the topic of 13 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Chegg Inc (NYSE:CHGG) earned “Buy” rating by Lake Street on Tuesday, November 8. First Analysis initiated the stock with “Overweight” rating in Thursday, September 10 report. The stock of Chegg Inc (NYSE:CHGG) earned “Market Perform” rating by Raymond James on Tuesday, February 23. The firm has “Buy” rating given on Thursday, November 19 by Craig Hallum. The firm has “Outperform” rating by Barrington Research given on Thursday, September 29. Lake Street maintained the shares of CHGG in a report on Tuesday, February 23 with “Buy” rating. The company was maintained on Tuesday, February 23 by Piper Jaffray.

According to Zacks Investment Research, “Chegg, Inc. provides a social education platform. The Company rents and sells print textbooks; and provides eTextbooks, supplemental materials, homework help, textbook buyback, courses, and college admissions and scholarship services, as well as offers enrollment marketing and brand advertising services. Chegg, Inc. is headquartered in Santa Clara, California.”

Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.02, from 1.08 in 2016Q1. The ratio worsened, as 11 funds sold all Chegg Inc shares owned while 25 reduced positions. 9 funds bought stakes while 29 increased positions. They now own 61.01 million shares or 1.48% less from 61.93 million shares in 2016Q1.
California State Teachers Retirement System has invested 0% of its portfolio in Chegg Inc (NYSE:CHGG). Invesco Limited holds 0% or 45,545 shares in its portfolio. Royal Comml Bank Of Canada holds 2,000 shares or 0% of its portfolio. Bank & Trust Of America De owns 2,311 shares or 0% of their US portfolio. Landscape Cap Mngmt Lc reported 121,715 shares or 0.08% of all its holdings. Da Davidson accumulated 4,900 shares or 0% of the stock. Sylebra Hk Com Limited owns 5.64 million shares or 2.65% of their US portfolio. Tower Research Cap Lc (Trc) last reported 0% of its portfolio in the stock. Ubs Asset Mngmt Americas Incorporated accumulated 24,000 shares or 0% of the stock. Swiss Bank & Trust, a Switzerland-based fund reported 94,300 shares. Kbc Group Nv holds 0.01% of its portfolio in Chegg Inc (NYSE:CHGG) for 195,757 shares. Moreover, Us Bank & Trust De has 0% invested in Chegg Inc (NYSE:CHGG) for 11,105 shares. Blackrock Fund Advsrs owns 2.08M shares or 0% of their US portfolio. Morgan Stanley has 0% invested in the company for 63,678 shares. Nationwide Fund Advsr has 49,152 shares for 0% of their US portfolio.

Insider Transactions: Since August 2, 2016, the stock had 0 buys, and 3 sales for $912,872 net activity. 25,000 Chegg Inc (NYSE:CHGG) shares with value of $168,800 were sold by GEIGER CHARLES.

Another recent and important Chegg Inc (NYSE:CHGG) news was published by Fool.com which published an article titled: “Why Chegg Inc. Stock Plummeted Today” on February 23, 2016.

CHGG Company Profile

Chegg, Inc., incorporated on July 29, 2005, is a student-first connected learning platform. The Firm helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Firm matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. Once in college, it provides a range of services and products to help students. The Firm offers a print textbook library for rent and sale both on its own and through its strategic partnership with Ingram. It also offers eTextbooks for rent and sale. The Firm also provides tutors to students online, through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job. The Firm also provides online writing tools, such as EasyBib, CitationMachine or BibMe.

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