eGain Co. (NASDAQ:EGAN – Get Rating) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 283,300 shares, a decrease of 9.3% from the August 15th total of 312,500 shares. Currently, 1.3% of the company's shares are short sold. Based on an average daily volume of 103,500 shares, the days-to-cover ratio is currently 2.7 days.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on EGAN shares. StockNews.com raised shares of eGain from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 12th. Craig Hallum reduced their price objective on shares of eGain from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, September 9th.
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eGain Trading Down 1.4 %
EGAN opened at $7.59 on Monday. The company's fifty day moving average price is $9.18 and its two-hundred day moving average price is $9.96. eGain has a 1-year low of $7.36 and a 1-year high of $13.70. The company has a market cap of $242.39 million, a price-to-earnings ratio of -94.88 and a beta of 0.31.
Institutional Trading of eGain
Several institutional investors have recently made changes to their positions in the company. Woodline Partners LP bought a new stake in shares of eGain in the 2nd quarter worth $237,000. Prudential Financial Inc. grew its stake in shares of eGain by 5.1% in the 2nd quarter. Prudential Financial Inc. now owns 137,024 shares of the technology company's stock worth $1,336,000 after acquiring an additional 6,690 shares in the last quarter. State Street Corp grew its stake in shares of eGain by 2.9% in the 2nd quarter. State Street Corp now owns 397,671 shares of the technology company's stock worth $3,877,000 after acquiring an additional 11,099 shares in the last quarter. Sei Investments Co. grew its stake in shares of eGain by 11.0% in the 2nd quarter. Sei Investments Co. now owns 152,763 shares of the technology company's stock worth $1,486,000 after acquiring an additional 15,168 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of eGain by 0.9% in the 2nd quarter. Renaissance Technologies LLC now owns 797,419 shares of the technology company's stock worth $7,775,000 after acquiring an additional 6,926 shares in the last quarter. Institutional investors own 55.42% of the company's stock.
About eGain
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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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