E2open Parent (NYSE:ETWO) Trading Down 5.2% – Here’s Why

E2open Parent Holdings, Inc. (NYSE:ETWO)’s stock price fell 5.2% during mid-day trading on Wednesday . The company traded as low as $2.91 and last traded at $2.94. 138,593 shares traded hands during trading, a decline of 93% from the average session volume of 1,938,444 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut E2open Parent from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $3.50 to $2.90 in a report on Wednesday, December 11th.

E2open Parent Price Performance

The firm has a 50-day moving average of $3.09 and a 200-day moving average of $3.92. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $932.06 million, a P/E ratio of -1.06, a PEG ratio of 1.16 and a beta of 0.98.

E2open Parent (NYSE:ETWO) last issued its earnings results on Wednesday, October 9th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. E2open Parent had a positive return on equity of 3.92% and a negative net margin of 125.70%. The company had revenue of $152.19 million for the quarter, compared to the consensus estimate of $152.33 million. As a group, analysts predict that E2open Parent Holdings, Inc. will post 0.19 EPS for the current year.

Hedge Funds Weigh In On E2open Parent

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of E2open Parent by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 798,741 shares of the company’s stock valued at $3,586,000 after purchasing an additional 55,315 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of E2open Parent by 15.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,248 shares of the company’s stock valued at $194,000 after acquiring an additional 5,854 shares during the period. Innealta Capital LLC bought a new stake in shares of E2open Parent in the 2nd quarter worth about $34,000. nVerses Capital LLC purchased a new position in shares of E2open Parent during the 2nd quarter worth about $48,000. Finally, American Century Companies Inc. purchased a new stake in E2open Parent in the 2nd quarter worth about $353,000.

E2open Parent Company Profile

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management and orchestration SaaS platform in the Americas, Europe, and the Asia Pacific. Its SaaS platform includes various key strategic and operational areas, including omni-channel, demand sensing, supply planning, global trade management, transportation and logistics and manufacturing and supply management.