Chegg Inc (NYSE:CHGG) price on Wednesday, May 09, fall -1.98% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.96.
A look at the stock’s price movement, the close in the last trading session was $5.06. Turning to its 52-week performance, $13.11 and $4.96 were the 52-week high and 52-week low respectively. Overall, CHGG moved -34.65% over the past month.
Chegg Inc’s market cap currently stands at around $507.01 million.
Analysts have a consensus estimate of 160.04M for the company’s revenue for the quarter, with a low and high estimate of 159M and 160.49M respectively. The average forecast suggests down to a -12.50% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 652.54M, representing a -8.90% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CHGG is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
CHGG’s current price about -23.47% and -32.35% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 23.32, while 7-day volatility ratio is 4.91% and 5.57% in the 30-day chart. Further, Chegg Inc (CHGG) has a beta value of 1.43, and an average true range (ATR) of 0.37.
If we refocus on Chegg Inc (NYSE:CHGG), historical trading data shows that trading volumes averaged 2.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 102.82 million shares.
The 4.06% of Chegg Inc’s shares are in the hands of company insiders while institutional holders own 95.79% of the company’s shares. Current price change has pushed the stock -56.34% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CHGG stock continues to rise going into the next quarter.