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

eGain Co. (NASDAQ:EGAN) was the recipient of a large decline in short interest during 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 short-interest ratio is currently 3.7 days. Approximately 2.0% of the company’s shares are short sold.

eGain Stock Performance

EGAN stock opened at $5.27 on Wednesday. eGain has a 1-year low of $4.71 and a 1-year high of $7.62. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. The firm has a market cap of $150.30 million, a PE ratio of 27.74 and a beta of 0.41. The business’s 50-day moving average price is $6.16 and its two-hundred day moving average price is $5.83.

eGain (NASDAQ:EGAN) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. eGain had a return on equity of 9.53% and a net margin of 6.45%. As a group, research analysts forecast that eGain will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On eGain

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in eGain by 17.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 73,401 shares of the technology company’s stock valued at $374,000 after acquiring an additional 10,933 shares in the last quarter. Seizert Capital Partners LLC raised its stake in shares of eGain by 99.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 38,068 shares of the technology company’s stock valued at $194,000 after purchasing an additional 18,989 shares during the period. Gladius Capital Management LP bought a new stake in shares of eGain in the third quarter valued at about $84,000. State Street Corp boosted its position in shares of eGain by 0.8% during the third quarter. State Street Corp now owns 413,850 shares of the technology company’s stock worth $2,111,000 after buying an additional 3,428 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of eGain by 16.8% during the third quarter. Jane Street Group LLC now owns 35,753 shares of the technology company’s stock worth $182,000 after buying an additional 5,144 shares in the last quarter. Institutional investors own 53.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EGAN. StockNews.com upgraded eGain from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target (down previously from $12.00) on shares of eGain in a research note on Friday, February 14th.

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.