E2open Parent (NYSE:ETWO) Stock Price Down 4.3% – Here’s What Happened

E2open Parent Holdings, Inc. (NYSE:ETWO) was down 4.3% on Tuesday . The stock traded as low as $2.36 and last traded at $2.33. Approximately 17,530 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,200,722 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

Several brokerages recently commented on ETWO. Loop Capital dropped their price target on E2open Parent from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, December 23rd. Morgan Stanley dropped their price target on shares of E2open Parent from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group downgraded E2open Parent from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $3.50 to $2.90 in a research report on Wednesday, December 11th.

E2open Parent Stock Down 6.8 %

The business’s fifty day moving average is $2.49 and its two-hundred day moving average is $3.03. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.91. The stock has a market cap of $777.43 million, a price-to-earnings ratio of -1.52, a PEG ratio of 1.05 and a beta of 1.02.

E2open Parent (NYSE:ETWO) last released its earnings results on Friday, January 10th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). E2open Parent had a positive return on equity of 4.38% and a negative net margin of 74.63%. Equities analysts forecast that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of E2open Parent

Several hedge funds have recently added to or reduced their stakes in the company. Bayesian Capital Management LP purchased a new stake in E2open Parent during the fourth quarter worth approximately $35,000. Tidal Investments LLC purchased a new stake in shares of E2open Parent in the fourth quarter valued at about $38,000. KLP Kapitalforvaltning AS acquired a new stake in E2open Parent during the 4th quarter worth approximately $86,000. Occudo Quantitative Strategies LP acquired a new position in E2open Parent in the 4th quarter valued at $101,000. Finally, GSA Capital Partners LLP acquired a new stake in E2open Parent in the third quarter valued at about $171,000.

About E2open Parent

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.