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

eGain Co. (NASDAQ:EGAN) was the recipient of a significant increase in short interest during 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. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 99,900 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Investors Weigh In On eGain

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in eGain by 7.0% in the first 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 last quarter. Worth Venture Partners LLC purchased a new stake in eGain in the fourth quarter worth approximately $286,000. Trexquant Investment LP boosted its stake in shares of eGain by 27.9% during the 4th 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 during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of eGain during the 4th quarter worth $706,000. Finally, Acuitas Investments LLC purchased a new position in shares of eGain during the 4th quarter worth $562,000. Hedge funds and other institutional investors own 53.94% of the company’s stock.

Analysts Set New Price Targets

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

eGain Trading Up 0.5 %

Shares of EGAN stock opened at $6.24 on Thursday. eGain has a 12-month low of $5.50 and a 12-month high of $8.52. The firm’s 50 day moving average is $6.23 and its 200 day moving average is $6.91. The stock has a market capitalization of $194.69 million, a P/E ratio of 28.36 and a beta of 0.54.

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