eGain Co. (NASDAQ:EGAN) Short Interest Down 6.6% in October

eGain Co. (NASDAQ:EGAN) was the recipient of 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. Based on an average daily trading volume, of 54,100 shares, the days-to-cover ratio is currently 5.9 days. Approximately 1.7% of the shares of the stock are short sold.

eGain Price Performance

Shares of NASDAQ:EGAN opened at $5.03 on Wednesday. The company has a market cap of $143.46 million, a P/E ratio of 26.48 and a beta of 0.44. The business has a fifty day simple moving average of $5.09 and a 200-day simple moving average of $6.02. eGain has a 52 week low of $4.71 and a 52 week high of $8.52. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.04.

eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $22.46 million during the quarter, compared to analysts’ expectations of $21.37 million. eGain had a return on equity of 9.53% and a net margin of 6.45%. Equities research analysts forecast that eGain will post 0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

EGAN has been the subject of a number of analyst reports. Craig Hallum boosted their price target on eGain from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Friday, September 6th. StockNews.com upgraded shares of eGain from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and set a $12.00 price target on shares of eGain in a report on Friday, September 6th.

Hedge Funds Weigh In On eGain

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in shares of eGain by 8.6% during the 2nd quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock worth $6,207,000 after buying an additional 78,051 shares during the last quarter. Renaissance Technologies LLC increased its stake in eGain by 3.3% during the second quarter. Renaissance Technologies LLC now owns 643,319 shares of the technology company’s stock worth $4,059,000 after acquiring an additional 20,600 shares during the last quarter. Barclays PLC raised its holdings in shares of eGain by 48.5% in the 3rd quarter. Barclays PLC now owns 60,513 shares of the technology company’s stock worth $308,000 after purchasing an additional 19,772 shares during the period. Seizert Capital Partners LLC lifted 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 in the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of eGain during the 3rd quarter worth about $84,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

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.