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 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 days-to-cover ratio is currently 5.2 days. Currently, 1.7% of the shares of the company are sold short.

Institutional Investors Weigh In On eGain

Several hedge funds and other institutional investors have recently modified their holdings of EGAN. Acadian Asset Management LLC boosted its position in shares of eGain by 8.6% in the second quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock valued at $6,207,000 after acquiring an additional 78,051 shares during the period. Dimensional Fund Advisors LP boosted its holdings in eGain by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 681,737 shares of the technology company’s stock valued at $4,301,000 after purchasing an additional 1,752 shares during the period. Renaissance Technologies LLC grew its position in shares of eGain by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 643,319 shares of the technology company’s stock valued at $4,059,000 after purchasing an additional 20,600 shares in the last quarter. State Street Corp increased its holdings in shares of eGain by 0.8% in the third quarter. State Street Corp now owns 413,850 shares of the technology company’s stock worth $2,111,000 after purchasing an additional 3,428 shares during the period. Finally, Sei Investments Co. raised its position in shares of eGain by 2.1% in the second quarter. Sei Investments Co. now owns 163,132 shares of the technology company’s stock worth $1,029,000 after buying an additional 3,384 shares in the last quarter. 53.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EGAN has been the subject of several research reports. Roth Mkm reiterated a “buy” rating and set a $12.00 price target on shares of eGain in a research note on Friday, September 6th. StockNews.com upgraded shares of eGain from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Craig Hallum boosted their price target on shares of eGain from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Friday, September 6th.

eGain Stock Performance

NASDAQ:EGAN opened at $6.48 on Thursday. The business’s fifty day moving average is $5.46 and its 200 day moving average is $5.89. The firm has a market cap of $184.84 million, a price-to-earnings ratio of 34.11 and a beta of 0.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.79 and a current ratio of 1.79. eGain has a 52-week low of $4.71 and a 52-week high of $8.30.

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.