Short Interest in eGain Co. (NASDAQ:EGAN) Declines By 15.3%

eGain Co. (NASDAQ:EGAN - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 402,400 shares, a drop of 15.3% from the March 31st total of 475,200 shares. Based on an average daily trading volume, of 67,600 shares, the short-interest ratio is presently 6.0 days. Currently, 2.2% of the company's stock are sold short.

Institutional Investors Weigh In On eGain

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of eGain by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 139,684 shares of the technology company's stock worth $677,000 after buying an additional 10,486 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in eGain by 6.1% in the first quarter. Assenagon Asset Management S.A. now owns 42,630 shares of the technology company's stock valued at $207,000 after acquiring an additional 2,446 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of eGain by 263.0% during the 4th quarter. Mackenzie Financial Corp now owns 90,688 shares of the technology company's stock valued at $565,000 after acquiring an additional 65,708 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of eGain in the 4th quarter worth approximately $71,000. Finally, Bank of America Corp DE grew its holdings in eGain by 8.9% during the fourth quarter. Bank of America Corp DE now owns 30,886 shares of the technology company's stock valued at $192,000 after purchasing an additional 2,525 shares during the period. 53.94% of the stock is owned by hedge funds and other institutional investors.

eGain Price Performance

Shares of EGAN stock opened at $4.95 on Friday. The firm has a 50-day moving average of $4.81 and a 200-day moving average of $5.41. eGain has a one year low of $4.34 and a one year high of $7.62. The company has a market cap of $139.25 million, a P/E ratio of 35.36 and a beta of 0.43.

eGain (NASDAQ:EGAN - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. eGain had a net margin of 4.86% and a return on equity of 7.41%. As a group, research analysts expect that eGain will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EGAN shares. StockNews.com upgraded shares of eGain from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Roth Mkm restated a "buy" rating and issued a $10.00 target price (down previously from $12.00) on shares of eGain in a report on Friday, February 14th.

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.

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