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

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

Wall Street Analyst Weigh In

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

eGain Stock Performance

Shares of eGain stock opened at $5.75 on Wednesday. The business’s 50 day moving average price is $5.27 and its 200 day moving average price is $5.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $164.01 million, a price-to-earnings ratio of 30.26 and a beta of 0.46. eGain has a one year low of $4.71 and a one year high of $8.52.

Hedge Funds Weigh In On eGain

A number of institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in eGain by 31.3% in the second quarter. Assenagon Asset Management S.A. now owns 62,468 shares of the technology company’s stock valued at $394,000 after purchasing an additional 14,893 shares during the period. Williams & Novak LLC acquired a new stake in eGain in the 3rd quarter valued at about $66,000. Acadian Asset Management LLC lifted its stake in shares of eGain by 8.6% during the second quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock valued at $6,207,000 after buying an additional 78,051 shares during the period. Sei Investments Co. raised its position in shares of eGain by 2.1% in the 2nd 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 period. Finally, Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 20,600 shares in the last quarter. 53.94% of the stock is owned by hedge funds and other 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.