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

Key Points

• eGain Corporation's stock price recently surpassed its 200-day moving average, reaching a trading high of $6.36 and last priced at $6.21.
• Wall Street analysts have downgraded eGain's rating from "buy" to "hold"**, indicating a more cautious outlook on the stock.
• Institutional investors show increased interest, with Geode Capital Management raising its holdings by 3.4% to own nearly 450,000 shares.

eGain Corporation (NASDAQ:EGAN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.56 and traded as high as $6.36. eGain shares last traded at $6.21, with a volume of 28,555 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of eGain from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd.

eGain Stock Up 3.7%

The stock has a market capitalization of $169.85 million, a P/E ratio of 69.00 and a beta of 0.45. The business's 50 day simple moving average is $6.32 and its two-hundred day simple moving average is $5.56.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of eGain by 3.4% in the second quarter. Geode Capital Management LLC now owns 449,899 shares of the technology company's stock valued at $2,812,000 after purchasing an additional 14,978 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of eGain in the second quarter valued at about $194,000. Kanen Wealth Management LLC raised its holdings in shares of eGain by 0.6% in the second quarter. Kanen Wealth Management LLC now owns 2,672,710 shares of the technology company's stock valued at $16,704,000 after purchasing an additional 16,290 shares during the last quarter. Strs Ohio purchased a new stake in shares of eGain in the first quarter valued at about $250,000. Finally, Acadian Asset Management LLC raised its holdings in shares of eGain by 0.7% in the first quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company's stock valued at $4,753,000 after purchasing an additional 6,429 shares during the last quarter. 53.94% of the stock is 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.

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