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

eGain Co. (NASDAQ:EGAN) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 244,200 shares, a growth of 28.3% from the March 15th total of 190,400 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 98,400 shares, the days-to-cover ratio is currently 2.5 days.

eGain Stock Performance

Shares of EGAN stock traded down $0.15 during midday trading on Monday, reaching $6.06. 35,084 shares of the company were exchanged, compared to its average volume of 94,840. eGain has a 12 month low of $5.50 and a 12 month high of $8.52. The company has a market cap of $189.07 million, a P/E ratio of 28.23 and a beta of 0.54. The company’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $6.91.

eGain (NASDAQ:EGAN) last released its earnings results on Thursday, February 8th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. eGain had a net margin of 7.33% and a return on equity of 11.01%. The business had revenue of $23.82 million for the quarter, compared to the consensus estimate of $23.53 million. As a group, sell-side analysts predict that eGain will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their target price on shares of eGain from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, February 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in eGain by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 177,690 shares of the technology company’s stock worth $2,058,000 after acquiring an additional 1,251 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of eGain in the first quarter worth $132,000. Dimensional Fund Advisors LP lifted its stake in shares of eGain by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 654,739 shares of the technology company’s stock worth $7,582,000 after buying an additional 2,643 shares during the last quarter. Sei Investments Co. lifted its stake in shares of eGain by 69.3% in the first quarter. Sei Investments Co. now owns 137,595 shares of the technology company’s stock worth $1,598,000 after buying an additional 56,327 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of eGain by 181.9% in the first quarter. Prudential Financial Inc. now owns 130,334 shares of the technology company’s stock worth $1,509,000 after buying an additional 84,100 shares during the last quarter. 53.94% of the stock is owned by hedge funds and other institutional investors.

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.