Short Interest in eGain Co. (NASDAQ:EGAN) Decreases By 12.5%

eGain Co. (NASDAQ:EGAN) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 389,200 shares, a decline of 12.5% from the April 30th total of 444,600 shares. Based on an average trading volume of 53,900 shares, the short-interest ratio is currently 7.2 days. Approximately 2.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in eGain by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company’s stock valued at $51,000 after purchasing an additional 2,197 shares during the period. Occudo Quantitative Strategies LP bought a new position in eGain during the fourth quarter valued at approximately $71,000. Stoneridge Investment Partners LLC lifted its position in eGain by 23.8% during the fourth quarter. Stoneridge Investment Partners LLC now owns 14,409 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,771 shares during the period. JPMorgan Chase & Co. lifted 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 valued at $79,000 after purchasing an additional 1,613 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in eGain during the first quarter valued at approximately $83,000. Institutional investors own 53.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of eGain from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Roth Mkm reissued a “buy” rating and set a $10.00 price objective (down previously from $12.00) on shares of eGain in a research note on Friday, February 14th.

eGain Stock Performance

Shares of NASDAQ EGAN opened at $5.88 on Friday. The firm’s 50 day moving average price is $5.05 and its 200-day moving average price is $5.44. The company has a market cap of $160.82 million, a PE ratio of 42.00 and a beta of 0.43. eGain has a 52-week low of $4.34 and a 52-week high of $7.62.

eGain (NASDAQ:EGAN) last issued its earnings results on Wednesday, May 14th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $21.01 million for the quarter, compared to the consensus estimate of $21.24 million. eGain had a net margin of 4.86% and a return on equity of 7.41%. On average, analysts forecast that eGain will post 0.05 earnings per share for the current fiscal year.

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.