Chegg Inc. (CHGG) Moves Higher on Volume Spike for January 10

Equities Staff  |

Chegg Inc. (CHGG) traded on unusually high volume on Jan. 10, as the stock gained 0.15% to close at $32.52. On the day, Chegg Inc. saw 1.83 million shares trade hands on 11,715 trades. Considering that the stock averages only a daily volume of 1.22 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $32.82 and $15.47 over the last 52-weeks, its 50-day SMA is now $27.47, and its 200-day SMA $27.17. Chegg Inc. has a P/B ratio of 9.62.

Chegg Inc is an American educational services company that specializes in textbook rentals, course assistance, and online tutoring. The company focuses on high school and college level students who are able to rent textbooks for various courses and return them to the company after completion. Rentals are typically transacted at a low cost relative to the purchase of textbooks at full price. The company offers over 25,000 textbook titles for students to rent and historically has had over 1 million students use its services. Chegg also provides course and professor reviews, standardized test preparation, career preparation, and study materials on its website. Textbook rentals provide the majority of the company's revenue followed by online educational services.

Headquartered in Santa Clara, CA, Chegg Inc. has 893 employees and is currently under the leadership of CEO Daniel L. Rosensweig.

For a complete fundamental analysis analysis of Chegg Inc., check out Equities.com’s Stock Valuation Analysis report for CHGG.

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To get more information on Chegg Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: CHGG’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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