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

eGain Co. (NASDAQ:EGAN) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 385,800 shares, a growth of 23.0% from the May 31st total of 313,700 shares. Based on an average daily volume of 92,900 shares, the short-interest ratio is currently 4.2 days. Approximately 2.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of eGain by 7.0% during the 1st quarter. BNP Paribas Financial Markets now owns 43,377 shares of the technology company’s stock worth $280,000 after buying an additional 2,852 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of eGain by 59.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 25,723 shares of the technology company’s stock worth $214,000 after buying an additional 9,574 shares in the last quarter. Vanguard Group Inc. raised its position in shares of eGain by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,068,063 shares of the technology company’s stock worth $13,339,000 after buying an additional 10,179 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of eGain by 15.3% during the 1st quarter. GSA Capital Partners LLP now owns 83,764 shares of the technology company’s stock worth $540,000 after buying an additional 11,084 shares in the last quarter. Finally, Trexquant Investment LP raised its position 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 buying an additional 12,027 shares in the last quarter. 53.94% of the stock is owned by institutional investors and hedge funds.

eGain Stock Performance

Shares of NASDAQ EGAN traded up $0.08 during midday trading on Tuesday, hitting $6.08. The company’s stock had a trading volume of 86,323 shares, compared to its average volume of 96,372. eGain has a 1-year low of $5.50 and a 1-year high of $8.52. The firm’s fifty day moving average price is $6.18 and its 200-day moving average price is $6.65. The firm has a market cap of $181.37 million, a P/E ratio of 21.71, a P/E/G ratio of 1.75 and a beta of 0.47.

eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $22.35 million during the quarter, compared to analyst estimates of $23.01 million. eGain had a net margin of 9.34% and a return on equity of 13.83%. During the same period last year, the firm posted ($0.01) earnings per share. As a group, research analysts predict that eGain will post 0.18 earnings per share for the current fiscal 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.