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 August. As of August 15th, there was short interest totalling 462,600 shares, a growth of 12.1% from the July 31st total of 412,800 shares. Based on an average daily volume of 88,600 shares, the short-interest ratio is presently 5.2 days. Approximately 2.3% of the company’s shares are short sold.

eGain Price Performance

Shares of EGAN traded down $0.51 during mid-day trading on Tuesday, reaching $6.66. 15,732 shares of the company’s stock traded hands, compared to its average volume of 88,918. The stock’s 50-day moving average is $6.84 and its two-hundred day moving average is $6.43. eGain has a 12 month low of $5.50 and a 12 month high of $8.52. The stock has a market cap of $198.65 million, a P/E ratio of 25.61, a P/E/G ratio of 2.11 and a beta of 0.47.

Hedge Funds Weigh In On eGain

Several hedge funds have recently bought and sold shares of EGAN. Hillsdale Investment Management Inc. bought a new stake in shares of eGain during the fourth quarter valued at approximately $706,000. Acadian Asset Management LLC lifted its holdings in shares of eGain by 8.6% in the 2nd quarter. Acadian Asset Management LLC now owns 984,257 shares of the technology company’s stock worth $6,207,000 after buying an additional 78,051 shares during the period. Worth Venture Partners LLC bought a new position in shares of eGain during the 4th quarter worth $286,000. Renaissance Technologies LLC increased its stake in shares of eGain by 3.3% during the second quarter. Renaissance Technologies LLC now owns 643,319 shares of the technology company’s stock valued at $4,059,000 after buying an additional 20,600 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of eGain by 100.5% in the fourth quarter. BNP Paribas Financial Markets now owns 40,525 shares of the technology company’s stock valued at $338,000 after acquiring an additional 20,315 shares in the last quarter. Institutional investors own 53.94% of the company’s stock.

eGain Company Profile

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.