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

eGain Co. (NASDAQ:EGAN) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 365,900 shares, a decline of 8.3% from the January 15th total of 399,200 shares. Based on an average daily volume of 97,800 shares, the days-to-cover ratio is presently 3.7 days. Approximately 2.0% of the shares of the company are short sold.

eGain Stock Performance

eGain stock traded up $0.14 during midday trading on Tuesday, hitting $5.27. 103,781 shares of the company were exchanged, compared to its average volume of 101,328. The business has a fifty day simple moving average of $6.16 and a two-hundred day simple moving average of $5.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market capitalization of $150.30 million, a PE ratio of 27.74 and a beta of 0.41. eGain has a fifty-two week low of $4.71 and a fifty-two week high of $7.62.

eGain (NASDAQ:EGAN) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. eGain had a net margin of 6.45% and a return on equity of 9.53%. On average, sell-side analysts forecast that eGain will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGAN. Wells Fargo & Company MN boosted its stake in shares of eGain by 36.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company’s stock worth $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 worth approximately $71,000. JPMorgan Chase & Co. boosted its position in eGain by 11.6% during the third quarter. JPMorgan Chase & Co. now owns 15,481 shares of the technology company’s stock worth $79,000 after purchasing an additional 1,613 shares in the last quarter. Gladius Capital Management LP acquired a new stake in eGain in the third quarter valued at approximately $84,000. Finally, Linden Thomas Advisory Services LLC increased its position in shares of eGain by 20.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,317 shares of the technology company’s stock valued at $89,000 after buying an additional 2,442 shares in the last quarter. Hedge funds and other institutional investors own 53.94% of the company’s stock.

Analyst Upgrades and Downgrades

EGAN has been the topic of several research reports. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target (down previously from $12.00) on shares of eGain in a report on Friday. StockNews.com raised shares of eGain from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th.

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.