eGain Co. (NASDAQ:EGAN) Short Interest Up 28.3% in March

eGain Co. (NASDAQ:EGAN - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 244,200 shares, an increase of 28.3% from the March 15th total of 190,400 shares. Approximately 1.2% of the company's shares are short sold. Based on an average trading volume of 98,400 shares, the days-to-cover ratio is currently 2.5 days.

eGain Stock Performance

eGain stock traded down $0.07 during mid-day trading on Monday, hitting $6.14. The company's stock had a trading volume of 83,937 shares, compared to its average volume of 95,619. The company has a 50 day moving average of $6.28 and a 200-day moving average of $6.91. eGain has a one year low of $5.50 and a one year high of $8.52. The stock has a market cap of $191.57 million, a PE ratio of 27.91 and a beta of 0.54.

eGain (NASDAQ:EGAN - Get Free Report) last issued its earnings results on Thursday, February 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.04. The firm had revenue of $23.82 million during the quarter, compared to analyst estimates of $23.53 million. eGain had a net margin of 7.33% and a return on equity of 11.01%. On average, equities research analysts forecast that eGain will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On eGain

A number of hedge funds have recently added to or reduced their stakes in EGAN. Advisory Services Network LLC purchased a new stake in eGain in the first quarter worth about $25,000. Simplex Trading LLC bought a new position in shares of eGain during the third quarter valued at approximately $33,000. UBS Group AG increased its holdings in eGain by 503.9% during the fourth quarter. UBS Group AG now owns 4,698 shares of the technology company's stock valued at $42,000 after buying an additional 3,920 shares during the period. BNP Paribas Arbitrage SA raised its stake in eGain by 81.0% in the second quarter. BNP Paribas Arbitrage SA now owns 4,813 shares of the technology company's stock worth $47,000 after buying an additional 2,154 shares in the last quarter. Finally, Citigroup Inc. bought a new position in eGain in the second quarter worth approximately $48,000. 53.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price target on shares of eGain from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, February 9th.

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.