Short Interest in eGain Co. (NASDAQ:EGAN) Decreases By 8.3%

eGain Co. (NASDAQ:EGAN) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 365,900 shares, a drop of 8.3% from the January 15th total of 399,200 shares. Based on an average trading volume of 97,800 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGAN. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target (down previously from $12.00) on shares of eGain in a research report on Friday. StockNews.com raised eGain from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th.

eGain Stock Performance

Shares of eGain stock traded down $1.14 during trading on Monday, reaching $5.13. The company’s stock had a trading volume of 275,259 shares, compared to its average volume of 82,629. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.79 and a current ratio of 1.79. The business’s fifty day moving average price is $6.17 and its 200-day moving average price is $5.84. The firm has a market cap of $146.31 million, a price-to-earnings ratio of 27.00 and a beta of 0.41. eGain has a one year low of $4.71 and a one year high of $7.62.

eGain (NASDAQ:EGAN) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. eGain had a return on equity of 9.53% and a net margin of 6.45%. As a group, equities research analysts predict that eGain will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On eGain

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in eGain by 17.5% during the third quarter. Assenagon Asset Management S.A. now owns 73,401 shares of the technology company’s stock valued at $374,000 after acquiring an additional 10,933 shares during the period. Seizert Capital Partners LLC increased its stake in eGain by 99.5% during the third quarter. Seizert Capital Partners LLC now owns 38,068 shares of the technology company’s stock valued at $194,000 after acquiring an additional 18,989 shares during the period. Gladius Capital Management LP bought a new position in eGain during the third quarter valued at about $84,000. State Street Corp increased its stake in eGain by 0.8% during the third quarter. State Street Corp now owns 413,850 shares of the technology company’s stock valued at $2,111,000 after acquiring an additional 3,428 shares during the period. Finally, Jane Street Group LLC increased its stake in eGain by 16.8% during the third quarter. Jane Street Group LLC now owns 35,753 shares of the technology company’s stock valued at $182,000 after acquiring an additional 5,144 shares during the period. 53.94% of the stock is currently owned by institutional investors.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.