eGain Co. (NASDAQ:EGAN) Short Interest Up 9.1% in April

eGain Co. (NASDAQ:EGAN) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 266,400 shares, an increase of 9.1% from the March 31st total of 244,200 shares. Based on an average daily volume of 99,900 shares, the short-interest ratio is currently 2.7 days. Approximately 1.3% of the company’s shares are sold short.

eGain Price Performance

EGAN stock traded down $0.03 during trading on Tuesday, reaching $6.25. 21,373 shares of the stock traded hands, compared to its average volume of 90,587. The business’s 50 day moving average price is $6.23 and its 200-day moving average price is $6.90. eGain has a 52-week low of $5.50 and a 52-week high of $8.52. The firm has a market capitalization of $195 million, a PE ratio of 28.55 and a beta of 0.54.

eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. eGain had a return on equity of 11.01% and a net margin of 7.33%. The firm had revenue of $23.82 million during the quarter, compared to the consensus estimate of $23.53 million. On average, equities research analysts predict that eGain will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price objective on eGain from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 9th.

Institutional Investors Weigh In On eGain

A number of institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of eGain in the fourth quarter worth about $706,000. Quadrature Capital Ltd lifted its stake in shares of eGain by 77.2% in the third quarter. Quadrature Capital Ltd now owns 80,717 shares of the technology company’s stock worth $496,000 after acquiring an additional 35,172 shares in the last quarter. Acuitas Investments LLC acquired a new position in shares of eGain in the fourth quarter worth about $562,000. Trexquant Investment LP lifted its stake in shares of eGain by 27.9% in the fourth quarter. Trexquant Investment LP now owns 55,101 shares of the technology company’s stock worth $459,000 after acquiring an additional 12,027 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of eGain in the third quarter worth about $252,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

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.