E2open Parent (NYSE:ETWO) Hits New 12-Month Low – Here’s Why

E2open Parent Holdings, Inc. (NYSE:ETWO) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $2.80 and last traded at $2.97, with a volume of 109622 shares traded. The stock had previously closed at $3.13.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group downgraded shares of E2open Parent from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $3.50 to $2.90 in a research report on Wednesday.

E2open Parent Stock Down 3.8 %

The firm has a 50-day moving average of $3.22 and a two-hundred day moving average of $3.99. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.67.

E2open Parent (NYSE:ETWO) last posted its quarterly earnings results on Wednesday, October 9th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. E2open Parent had a negative net margin of 125.70% and a positive return on equity of 3.92%. The business had revenue of $152.19 million during the quarter, compared to analyst estimates of $152.33 million. As a group, sell-side analysts anticipate that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On E2open Parent

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in E2open Parent in the second quarter valued at about $34,000. nVerses Capital LLC bought a new stake in shares of E2open Parent in the 2nd quarter valued at approximately $48,000. Canada Pension Plan Investment Board bought a new stake in shares of E2open Parent in the 2nd quarter valued at approximately $50,000. MQS Management LLC acquired a new position in E2open Parent in the third quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP bought a new position in E2open Parent during the second quarter valued at approximately $98,000.

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.