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

eGain Corporation (NASDAQ:EGAN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.53 and traded as high as $6.50. eGain shares last traded at $6.25, with a volume of 62,855 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of eGain from a "buy" rating to a "hold" rating in a report on Saturday, June 14th.

eGain Price Performance

The firm has a market cap of $185.16 million, a PE ratio of 75.22 and a beta of 0.41. The firm has a 50-day simple moving average of $5.72 and a 200 day simple moving average of $5.56.

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

Hedge Funds Weigh In On eGain

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seizert Capital Partners LLC raised its position in shares of eGain by 55.9% in the 4th quarter. Seizert Capital Partners LLC now owns 59,340 shares of the technology company's stock worth $370,000 after purchasing an additional 21,272 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of eGain by 382.4% in the 4th quarter. JPMorgan Chase & Co. now owns 74,688 shares of the technology company's stock worth $465,000 after purchasing an additional 59,207 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of eGain by 37.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 27,009 shares of the technology company's stock worth $168,000 after purchasing an additional 7,373 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of eGain in the 4th quarter worth about $236,000. Finally, Wells Fargo & Company MN raised its position in shares of eGain by 36.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company's stock worth $51,000 after purchasing an additional 2,197 shares during the last quarter. Hedge funds and other institutional investors own 53.94% of the company's stock.

eGain Company Profile

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.