eGain Co. (NASDAQ:EGAN) Short Interest Down 12.5% in May

eGain Co. (NASDAQ:EGAN - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 389,200 shares, a drop of 12.5% from the April 30th total of 444,600 shares. Approximately 2.2% of the company's shares are short sold. Based on an average trading volume of 53,900 shares, the days-to-cover ratio is currently 7.2 days.

Institutional Trading of eGain

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio bought a new stake in shares of eGain during the 1st quarter worth approximately $250,000. Acadian Asset Management LLC increased its position in eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company's stock worth $4,753,000 after purchasing an additional 6,429 shares in the last quarter. Jane Street Group LLC increased its position in eGain by 53.7% during the 1st quarter. Jane Street Group LLC now owns 47,726 shares of the technology company's stock worth $231,000 after purchasing an additional 16,678 shares in the last quarter. Nuveen LLC acquired a new position in eGain during the 1st quarter worth approximately $296,000. Finally, Jefferies Financial Group Inc. acquired a new position in eGain during the 1st quarter worth approximately $83,000. Institutional investors own 53.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of eGain from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Roth Mkm reiterated a "buy" rating and issued a $10.00 price target (down from $12.00) on shares of eGain in a research note on Friday, February 14th.

eGain Trading Up 3.9%

Shares of eGain stock traded up $0.22 during trading on Thursday, hitting $5.79. 29,138 shares of the stock were exchanged, compared to its average volume of 74,146. The stock has a market capitalization of $158.36 million, a price-to-earnings ratio of 41.36 and a beta of 0.43. The company has a fifty day moving average price of $5.03 and a 200-day moving average price of $5.43. eGain has a 1-year low of $4.34 and a 1-year high of $7.62.

eGain (NASDAQ:EGAN - Get Free Report) last announced its earnings results on Wednesday, May 14th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $21.01 million during the quarter, compared to the consensus estimate of $21.24 million. eGain had a net margin of 4.86% and a return on equity of 7.41%. Equities research analysts forecast that eGain will post 0.05 EPS for the current fiscal year.

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.