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

eGain Co. (NASDAQ:EGAN) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 315,000 shares, a growth of 7.5% from the November 30th total of 292,900 shares. Based on an average daily trading volume, of 60,500 shares, the short-interest ratio is presently 5.2 days. Approximately 1.7% of the shares of the company are short sold.

eGain Price Performance

EGAN opened at $6.23 on Thursday. The firm has a 50-day moving average price of $5.46 and a 200-day moving average price of $5.89. 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 has a twelve month low of $4.71 and a twelve month high of $8.30. The company has a market capitalization of $177.70 million, a price-to-earnings ratio of 32.79 and a beta of 0.46.

Analyst Ratings Changes

A number of research firms recently issued reports on EGAN. StockNews.com upgraded shares of eGain from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th. Craig Hallum lifted their target price on shares of eGain from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Roth Mkm reiterated a “buy” rating and issued a $12.00 target price on shares of eGain in a research note on Friday, September 6th.

Hedge Funds Weigh In On eGain

Large investors have recently modified their holdings of the company. Williams & Novak LLC bought a new position in shares of eGain in the third quarter valued at approximately $66,000. JPMorgan Chase & Co. boosted its position in shares of eGain by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 15,481 shares of the technology company’s stock valued at $79,000 after acquiring an additional 1,613 shares during the period. Gladius Capital Management LP bought a new position in shares of eGain in the third quarter valued at approximately $84,000. Jane Street Group LLC boosted its position in shares of eGain by 16.8% in the third quarter. Jane Street Group LLC now owns 35,753 shares of the technology company’s stock valued at $182,000 after acquiring an additional 5,144 shares during the period. Finally, Seizert Capital Partners LLC boosted its position in shares of eGain by 99.5% in the third quarter. Seizert Capital Partners LLC now owns 38,068 shares of the technology company’s stock valued at $194,000 after acquiring an additional 18,989 shares during the period. 53.94% of the stock is currently owned by 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.