Short Interest in eGain Co. (NASDAQ:EGAN) Drops By 7.8%

eGain Co. (NASDAQ:EGAN) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 292,900 shares, a drop of 7.8% from the November 15th total of 317,600 shares. Based on an average trading volume of 59,500 shares, the days-to-cover ratio is currently 4.9 days. Currently, 1.6% of the company’s shares are sold short.

Institutional Trading of eGain

A number of large investors have recently made changes to their positions in EGAN. Dimensional Fund Advisors LP increased its stake in eGain by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 681,737 shares of the technology company’s stock worth $4,301,000 after acquiring an additional 1,752 shares during the last quarter. Sei Investments Co. lifted its position in 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 during the last quarter. State Street Corp boosted its stake in eGain by 0.8% during the third quarter. State Street Corp now owns 413,850 shares of the technology company’s stock worth $2,111,000 after buying an additional 3,428 shares during the period. Jane Street Group LLC raised its stake 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, Assenagon Asset Management S.A. lifted its holdings in shares of eGain by 17.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 73,401 shares of the technology company’s stock worth $374,000 after acquiring an additional 10,933 shares during the last quarter. 53.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on EGAN shares. Roth Mkm reaffirmed a “buy” rating and set a $12.00 price objective on shares of eGain in a research report on Friday, September 6th. StockNews.com raised eGain from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Craig Hallum increased their target price on eGain from $6.00 to $7.00 and gave the company a “hold” rating in a report on Friday, September 6th.

eGain Price Performance

EGAN traded up $0.07 during trading hours on Monday, hitting $5.64. The company’s stock had a trading volume of 20,564 shares, compared to its average volume of 80,910. eGain has a 12 month low of $4.71 and a 12 month high of $8.52. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $5.24 and its 200-day moving average price is $5.92. The stock has a market cap of $160.88 million, a price-to-earnings ratio of 29.05 and a beta of 0.46.

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.