eGain Corp (NASDAQ:EGAN) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 515,200 shares, a decline of 9.0% from the May 30th total of 566,400 shares. Based on an average daily volume of 189,600 shares, the short-interest ratio is currently 2.7 days. Approximately 2.3% of the company’s shares are sold short.
In other eGain news, CFO Eric Smit sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $9.97, for a total transaction of $49,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Promod Narang sold 22,650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $8.03, for a total value of $181,879.50. Following the sale, the senior vice president now directly owns 320,118 shares of the company’s stock, valued at approximately $2,570,547.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,650 shares of company stock valued at $280,090. Company insiders own 38.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its stake in shares of eGain by 7.7% during the fourth quarter. Deutsche Bank AG now owns 38,288 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,724 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of eGain during the first quarter worth about $31,000. BNP Paribas Arbitrage SA lifted its stake in shares of eGain by 8,721.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,705 shares of the technology company’s stock worth $39,000 after purchasing an additional 3,663 shares in the last quarter. Optimum Investment Advisors acquired a new position in shares of eGain during the first quarter worth about $52,000. Finally, Two Sigma Advisers LP lifted its stake in shares of eGain by 12.1% during the fourth quarter. Two Sigma Advisers LP now owns 58,200 shares of the technology company’s stock worth $382,000 after purchasing an additional 6,300 shares in the last quarter. Institutional investors own 78.61% of the company’s stock.
A number of equities research analysts have issued reports on EGAN shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Craig Hallum lowered their price target on Green Dot from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, July 8th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. eGain has an average rating of “Buy” and a consensus price target of $11.67.
EGAN stock traded down $0.05 during trading on Friday, reaching $7.99. 72,253 shares of the stock traded hands, compared to its average volume of 142,937. The firm’s 50 day simple moving average is $8.12. eGain has a 52-week low of $5.40 and a 52-week high of $16.00. The firm has a market cap of $242.26 million, a price-to-earnings ratio of 53.60, a PEG ratio of 1.91 and a beta of 0.66.
eGain (NASDAQ:EGAN) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.05. eGain had a return on equity of 225.04% and a net margin of 5.25%. The firm had revenue of $17.00 million during the quarter, compared to the consensus estimate of $16.60 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that eGain will post 0.16 EPS for the current fiscal year.
eGain Company Profile
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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