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

eGain Co. (NASDAQ:EGAN) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 319,600 shares, a decline of 6.6% from the October 15th total of 342,300 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average trading volume of 54,100 shares, the days-to-cover ratio is currently 5.9 days.

eGain Stock Performance

Shares of EGAN stock opened at $5.03 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.79 and a quick ratio of 1.79. The company’s fifty day moving average price is $5.09 and its two-hundred day moving average price is $6.02. The firm has a market capitalization of $143.46 million, a P/E ratio of 26.48 and a beta of 0.44. eGain has a 12 month low of $4.71 and a 12 month high of $8.52.

eGain (NASDAQ:EGAN) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. The business had revenue of $22.46 million for the quarter, compared to analysts’ expectations of $21.37 million. eGain had a return on equity of 9.53% and a net margin of 6.45%. On average, research analysts anticipate that eGain will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On eGain

Several institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in eGain by 8.6% in the second quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock valued at $6,207,000 after acquiring an additional 78,051 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of eGain by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 643,319 shares of the technology company’s stock worth $4,059,000 after purchasing an additional 20,600 shares during the last quarter. Barclays PLC raised its stake in shares of eGain by 48.5% in the 3rd quarter. Barclays PLC now owns 60,513 shares of the technology company’s stock valued at $308,000 after purchasing an additional 19,772 shares in the last quarter. Seizert Capital Partners LLC lifted its position in shares of eGain by 99.5% during the third quarter. Seizert Capital Partners LLC now owns 38,068 shares of the technology company’s stock worth $194,000 after purchasing an additional 18,989 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in eGain in the third quarter worth about $84,000. 53.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGAN has been the subject of several recent research reports. Craig Hallum increased their price target on eGain from $6.00 to $7.00 and gave the company a “hold” rating in a report on Friday, September 6th. Roth Mkm reiterated a “buy” rating and set a $12.00 target price on shares of eGain in a report on Friday, September 6th. Finally, StockNews.com upgraded eGain from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

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.