Short Interest in eGain Co. (NASDAQ:EGAN) Decreases By 12.5%

eGain Co. (NASDAQ:EGAN) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 389,200 shares, a decrease of 12.5% from the April 30th total of 444,600 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 53,900 shares, the short-interest ratio is currently 7.2 days.

Hedge Funds Weigh In On eGain

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in eGain by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company’s stock valued at $51,000 after acquiring an additional 2,197 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in eGain during the fourth quarter valued at $71,000. Stoneridge Investment Partners LLC grew its stake in eGain by 23.8% during the fourth 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. grew its stake in eGain by 11.6% during the third 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 in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in eGain during the first quarter valued at $83,000. 53.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGAN has been the subject of a number of analyst reports. Wall Street Zen raised shares of eGain from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective (down from $12.00) on shares of eGain in a research note on Friday, February 14th.

eGain Price Performance

Shares of NASDAQ EGAN opened at $5.88 on Friday. The firm has a fifty day moving average price of $5.05 and a 200-day moving average price of $5.44. The stock has a market cap of $160.82 million, a PE ratio of 42.00 and a beta of 0.43. eGain has a 1 year low of $4.34 and a 1 year high of $7.62.

eGain (NASDAQ:EGAN) last announced its quarterly earnings data on Wednesday, May 14th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $21.01 million during the quarter, compared to analysts’ expectations of $21.24 million. eGain had a net margin of 4.86% and a return on equity of 7.41%. On average, research analysts expect that eGain will post 0.05 EPS for the current 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.