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

eGain Co. (NASDAQ:EGAN - Get Free Report) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 402,400 shares, a decline of 15.3% from the March 31st total of 475,200 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 67,600 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Trading of eGain

Institutional investors and hedge funds have recently modified their holdings of the business. Kanen Wealth Management LLC increased its holdings in eGain by 6.9% in the 4th quarter. Kanen Wealth Management LLC now owns 2,659,823 shares of the technology company's stock worth $16,571,000 after buying an additional 171,451 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in eGain by 263.0% in the fourth quarter. Mackenzie Financial Corp now owns 90,688 shares of the technology company's stock worth $565,000 after purchasing an additional 65,708 shares during the last quarter. JPMorgan Chase & Co. grew its position in eGain by 382.4% in the 4th quarter. JPMorgan Chase & Co. now owns 74,688 shares of the technology company's stock worth $465,000 after purchasing an additional 59,207 shares during the period. Integrated Quantitative Investments LLC purchased a new stake in eGain during the 4th quarter valued at $236,000. Finally, Seizert Capital Partners LLC lifted its holdings in shares of eGain by 55.9% during the 4th quarter. Seizert Capital Partners LLC now owns 59,340 shares of the technology company's stock valued at $370,000 after buying an additional 21,272 shares during the period. Institutional investors own 53.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

eGain Stock Down 0.6 %

eGain stock traded down $0.03 during trading hours on Thursday, reaching $5.20. 32,346 shares of the company's stock were exchanged, compared to its average volume of 77,881. eGain has a twelve month low of $4.34 and a twelve month high of $7.62. The firm has a market capitalization of $146.28 million, a PE ratio of 37.14 and a beta of 0.43. The firm's 50 day simple moving average is $4.82 and its 200 day simple moving average is $5.41.

eGain (NASDAQ:EGAN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. eGain had a return on equity of 7.41% and a net margin of 4.86%. Analysts anticipate 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.