eGain Co. (NASDAQ:EGAN) Short Interest Down 9.3% in August

eGain Co. (NASDAQ:EGANGet Rating) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 283,300 shares, a drop of 9.3% from the August 15th total of 312,500 shares. Based on an average daily trading volume, of 103,500 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com raised eGain from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 12th. Craig Hallum lowered their price objective on eGain from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, September 9th.

eGain Price Performance

EGAN opened at $7.59 on Monday. The stock has a 50-day moving average price of $9.18 and a 200-day moving average price of $9.96. The firm has a market cap of $242.39 million, a PE ratio of -94.88 and a beta of 0.31. eGain has a 1 year low of $7.36 and a 1 year high of $13.70.

Hedge Funds Weigh In On eGain

Several large investors have recently modified their holdings of the stock. Amalgamated Bank purchased a new position in eGain in the 1st quarter worth about $34,000. BNP Paribas Arbitrage SA raised its position in eGain by 81.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,813 shares of the technology company’s stock worth $47,000 after buying an additional 2,154 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in eGain in the 1st quarter worth about $67,000. Lazard Asset Management LLC raised its position in eGain by 17.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,705 shares of the technology company’s stock worth $89,000 after buying an additional 1,168 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in eGain in the 1st quarter worth about $132,000. Hedge funds and other institutional investors own 55.42% of the company’s stock.

eGain Company Profile

(Get Rating)

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 unified cloud software solutions to automate, augment, and orchestrate customer engagement. It also offers subscription services that provides customers with access to its software on a cloud-based platform; and professional services, such as consulting, implementation, and training services.

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