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

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

Analyst Upgrades and Downgrades

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

E2open Parent Price Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $777.43 million, a PE ratio of -1.52, a P/E/G ratio of 1.05 and a beta of 1.02. The company has a 50-day moving average of $2.49 and a two-hundred day moving average of $3.03.

E2open Parent (NYSE:ETWO) last announced its quarterly earnings data on Friday, January 10th. The company reported $0.05 earnings per share 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%. Sell-side analysts predict that E2open Parent Holdings, Inc. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On E2open Parent

A number of hedge funds have recently made changes to their positions in ETWO. Norges Bank purchased a new position in shares of E2open Parent in the 4th quarter worth $6,151,000. Nomura Holdings Inc. increased its stake in E2open Parent by 15.7% during the fourth quarter. Nomura Holdings Inc. now owns 14,725,233 shares of the company’s stock worth $39,169,000 after acquiring an additional 1,994,267 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of E2open Parent by 593.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,960,030 shares of the company’s stock worth $8,644,000 after purchasing an additional 1,677,336 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of E2open Parent in the 3rd quarter valued at about $6,360,000. Finally, Geode Capital Management LLC grew its holdings in shares of E2open Parent by 19.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,736,328 shares of the company’s stock worth $20,892,000 after purchasing an additional 759,398 shares during the period.

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.