Stocks to Watch: eGain Corp (NASDAQ:EGAN) Short Interest Down 9.0%

eGain Corp (NASDAQ:EGAN) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 515,200 shares, a decrease of 9.0% from the May 30th total of 566,400 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 189,600 shares, the days-to-cover ratio is presently 2.7 days.

A number of equities research analysts recently issued reports on EGAN shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, July 8th. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Finally, Craig Hallum reduced their target price on Green Dot from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.50.

Shares of NASDAQ EGAN traded down $0.03 during mid-day trading on Tuesday, hitting $7.88. 2 shares of the stock traded hands, compared to its average volume of 102,371. eGain has a twelve month low of $5.40 and a twelve month high of $15.55. The firm has a market capitalization of $245.58 million, a P/E ratio of 54.00, a PEG ratio of 1.93 and a beta of 0.66. The firm’s 50 day simple moving average is $8.09.

eGain (NASDAQ:EGAN) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $17.00 million for the quarter, compared to the consensus estimate of $16.60 million. During the same quarter last year, the business posted $0.02 EPS. eGain’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that eGain will post 0.16 EPS for the current fiscal year.
In related news, SVP Promod Narang sold 22,650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $8.03, for a total transaction of $181,879.50. Following the sale, the senior vice president now owns 320,118 shares of the company’s stock, valued at $2,570,547.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 28,650 shares of company stock worth $230,240 in the last three months. 38.60% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Quantamental Technologies LLC bought a new position in eGain during the 1st quarter worth $31,000. BNP Paribas Arbitrage SA raised its position in eGain by 8,721.4% during the 1st 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 during the last quarter. Optimum Investment Advisors bought a new position in shares of eGain in the 1st quarter worth about $52,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of eGain in the 1st quarter worth about $106,000. Finally, Marshall Wace North America L.P. bought a new position in shares of eGain in the 1st quarter worth about $114,000. 79.46% of the stock is owned by institutional investors and hedge funds.

About eGain

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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