E2open Parent (NYSE:ETWO) Shares Down 5.2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut E2open Parent from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.50 to $2.90 in a research note on Wednesday, December 11th.

E2open Parent Stock Down 2.9 %

The firm has a market cap of $1.03 billion, a P/E ratio of -1.17, a PEG ratio of 1.16 and a beta of 0.98. The firm’s 50-day moving average price is $3.12 and its 200 day moving average price is $3.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.03 and a quick ratio of 1.03.

E2open Parent (NYSE:ETWO) last issued its earnings results on Wednesday, October 9th. The company reported $0.05 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $152.33 million. On average, equities research analysts expect that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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