Short Interest in eGain Co. (NASDAQ:EGAN) Declines By 6.6%

eGain Co. (NASDAQ:EGAN) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 319,600 shares, a decrease of 6.6% from the October 15th total of 342,300 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 54,100 shares, the days-to-cover ratio is currently 5.9 days.

Institutional Investors Weigh In On eGain

Several institutional investors and hedge funds have recently added to or reduced their stakes in EGAN. Williams & Novak LLC bought a new stake in shares of eGain during the 3rd quarter valued at $66,000. Gladius Capital Management LP purchased a new position in eGain during the third quarter valued at $84,000. Jane Street Group LLC raised its holdings in shares of eGain by 16.8% during the 3rd quarter. Jane Street Group LLC now owns 35,753 shares of the technology company’s stock worth $182,000 after acquiring an additional 5,144 shares in the last quarter. Seizert Capital Partners LLC raised its position in shares of eGain by 99.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 38,068 shares of the technology company’s stock valued at $194,000 after buying an additional 18,989 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of eGain by 7.0% in the 1st quarter. BNP Paribas Financial Markets now owns 43,377 shares of the technology company’s stock worth $280,000 after purchasing an additional 2,852 shares during the period. Hedge funds and other institutional investors own 53.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EGAN shares. Craig Hallum increased their price objective on shares of eGain from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. StockNews.com cut shares of eGain from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Roth Mkm restated a “buy” rating and issued a $12.00 price objective on shares of eGain in a research note on Friday, September 6th.

eGain Stock Performance

Shares of EGAN stock opened at $4.98 on Tuesday. The company has a market capitalization of $142.03 million, a P/E ratio of 26.21 and a beta of 0.44. 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 stock has a 50 day moving average price of $5.09 and a two-hundred day moving average price of $6.03. eGain has a fifty-two week low of $4.71 and a fifty-two week high of $8.52.

eGain (NASDAQ:EGAN) last announced its earnings results on Thursday, September 5th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. eGain had a return on equity of 9.53% and a net margin of 6.45%. The firm had revenue of $22.46 million during the quarter, compared to analyst estimates of $21.37 million. Analysts expect that eGain will post 0.01 earnings per share for the current year.

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.