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

eGain Co. (NASDAQ:EGAN) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 244,200 shares, an increase of 28.3% from the March 15th total of 190,400 shares. Based on an average daily trading volume, of 98,400 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their price target on eGain from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, February 9th.

eGain Stock Performance

EGAN stock traded down $0.15 during midday trading on Monday, reaching $6.06. The stock had a trading volume of 35,084 shares, compared to its average volume of 94,840. The stock has a market cap of $189.07 million, a PE ratio of 28.23 and a beta of 0.54. The firm has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $6.91. eGain has a 52-week low of $5.50 and a 52-week high of $8.52.

eGain (NASDAQ:EGAN) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $23.82 million during the quarter, compared to analyst estimates of $23.53 million. eGain had a return on equity of 11.01% and a net margin of 7.33%. On average, sell-side analysts predict that eGain will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On eGain

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC grew its position in shares of eGain by 17.9% during the 1st quarter. Lazard Asset Management LLC now owns 7,705 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,168 shares during the period. Bank of New York Mellon Corp grew its position in shares of eGain by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 177,690 shares of the technology company’s stock valued at $2,058,000 after acquiring an additional 1,251 shares during the period. Rhumbline Advisers grew its position in shares of eGain by 4.7% during the 1st quarter. Rhumbline Advisers now owns 32,705 shares of the technology company’s stock valued at $248,000 after acquiring an additional 1,463 shares during the period. UBS Group AG grew its position in shares of eGain by 36.8% during the 1st quarter. UBS Group AG now owns 6,429 shares of the technology company’s stock valued at $49,000 after acquiring an additional 1,731 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of eGain by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 249,228 shares of the technology company’s stock valued at $2,251,000 after acquiring an additional 1,981 shares during the period. Hedge funds and other institutional investors own 53.94% of the company’s stock.

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.