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eGain (NASDAQ:EGAN) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

eGain logo with Computer and Technology background

eGain Corporation (NASDAQ:EGAN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.60 and traded as high as $6.55. eGain shares last traded at $6.41, with a volume of 19,593 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded eGain from a "buy" rating to a "hold" rating in a research report on Saturday.

Read Our Latest Stock Report on eGain

eGain Price Performance

The company has a market capitalization of $159.18 million, a P/E ratio of 64.67 and a beta of 0.45. The business has a 50-day moving average of $6.24 and a 200-day moving average of $5.60.

eGain (NASDAQ:EGAN - Get Free Report) last released its earnings results on Wednesday, May 14th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. eGain had a return on equity of 5.24% and a net margin of 3.30%. The business had revenue of $21.01 million during the quarter, compared to the consensus estimate of $21.24 million. Sell-side analysts predict that eGain Corporation will post 0.05 EPS for the current fiscal year.

Institutional Trading of eGain

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp increased its stake in shares of eGain by 263.0% during the fourth quarter. Mackenzie Financial Corp now owns 90,688 shares of the technology company's stock valued at $565,000 after buying an additional 65,708 shares during the period. Nuveen LLC purchased a new position in shares of eGain during the first quarter valued at $296,000. JPMorgan Chase & Co. increased its stake in shares of eGain by 382.4% during the fourth quarter. JPMorgan Chase & Co. now owns 74,688 shares of the technology company's stock valued at $465,000 after buying an additional 59,207 shares during the period. Strs Ohio purchased a new position in shares of eGain during the first quarter valued at $250,000. Finally, Integrated Quantitative Investments LLC purchased a new position in shares of eGain during the fourth quarter valued at $236,000. 53.94% of the stock is currently owned by institutional investors.

About eGain

(Get Free Report)

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.

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