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

eGain Co. (NASDAQ:EGAN) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 292,900 shares, a drop of 7.8% from the November 15th total of 317,600 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 59,500 shares, the short-interest ratio is currently 4.9 days.

eGain Stock Performance

EGAN traded up $0.09 during trading on Tuesday, reaching $5.75. 62,180 shares of the company’s stock were exchanged, compared to its average volume of 80,932. The company’s fifty day simple moving average is $5.25 and its 200-day simple moving average is $5.91. The stock has a market capitalization of $164.01 million, a P/E ratio of 29.79 and a beta of 0.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.79 and a quick ratio of 1.79. eGain has a 1 year low of $4.71 and a 1 year high of $8.52.

Institutional Investors Weigh In On eGain

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of eGain by 8.6% in the second quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock worth $6,207,000 after buying an additional 78,051 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in eGain by 3.3% in the second quarter. Renaissance Technologies LLC now owns 643,319 shares of the technology company’s stock valued at $4,059,000 after acquiring an additional 20,600 shares during the period. Barclays PLC lifted its holdings in eGain by 48.5% in the third quarter. Barclays PLC now owns 60,513 shares of the technology company’s stock valued at $308,000 after acquiring an additional 19,772 shares during the period. Seizert Capital Partners LLC boosted its position in eGain by 99.5% in the 3rd 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 in the last quarter. Finally, Gladius Capital Management LP acquired a new stake in shares of eGain during the 3rd quarter worth approximately $84,000. 53.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EGAN. StockNews.com raised shares of eGain from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th. Roth Mkm reaffirmed a “buy” rating and set a $12.00 price target on shares of eGain in a research report on Friday, September 6th. Finally, Craig Hallum increased their price objective on eGain from $6.00 to $7.00 and gave the company a “hold” rating in a report on Friday, September 6th.

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.