eGain Co. (NASDAQ:EGAN) Sees Large Decrease in Short Interest

eGain Co. (NASDAQ:EGAN - Get Free Report) was the target of a large 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. Based on an average daily trading volume, of 53,900 shares, the days-to-cover ratio is currently 7.2 days. Approximately 2.2% of the company's shares are sold short.

Institutional Investors Weigh In On eGain

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in eGain by 36.8% in the fourth 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 in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of eGain during the 4th quarter worth approximately $71,000. Stoneridge Investment Partners LLC increased its stake in shares of eGain by 23.8% in the 4th quarter. Stoneridge Investment Partners LLC now owns 14,409 shares of the technology company's stock valued at $90,000 after acquiring an additional 2,771 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of eGain by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,481 shares of the technology company's stock valued at $79,000 after acquiring an additional 1,613 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in eGain during the first quarter worth $83,000. Institutional investors own 53.94% of the company's stock.

Wall Street Analysts Forecast Growth

EGAN has been the topic of a number of research reports. Roth Mkm reissued a "buy" rating and set a $10.00 target price (down from $12.00) on shares of eGain in a report on Friday, February 14th. Wall Street Zen upgraded shares of eGain from a "hold" rating to a "buy" rating in a report on Friday.

eGain Stock Performance

Shares of EGAN traded down $0.15 during mid-day trading on Friday, reaching $5.73. 62,759 shares of the company were exchanged, compared to its average volume of 73,544. eGain has a 52 week low of $4.34 and a 52 week high of $7.62. The stock has a market capitalization of $156.72 million, a PE ratio of 40.93 and a beta of 0.37. The business has a 50 day simple moving average of $5.07 and a two-hundred day simple moving average of $5.44.

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, beating analysts' consensus estimates 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%. On average, analysts predict that eGain will post 0.05 EPS for the current year.

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.