E2open Parent (NYSE:ETWO) Hits New 1-Year Low - Here's Why

E2open Parent Holdings, Inc. (NYSE:ETWO - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $2.31 and last traded at $2.34, with a volume of 650929 shares traded. The stock had previously closed at $2.34.

Analyst Upgrades and Downgrades

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

E2open Parent Stock Performance

The firm has a market capitalization of $787.73 million, a PE ratio of -1.54, a P/E/G ratio of 1.05 and a beta of 1.00. 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 business has a 50-day simple moving average of $2.64 and a 200-day simple moving average of $3.29.

E2open Parent (NYSE:ETWO - Get Free Report) last released its quarterly earnings results 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 negative net margin of 74.63% and a positive return on equity of 4.38%. Equities research analysts expect that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

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Institutional Trading of E2open Parent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its stake in shares of E2open Parent by 2,494.1% during the fourth quarter. Mackenzie Financial Corp now owns 282,552 shares of the company's stock valued at $752,000 after buying an additional 271,660 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in E2open Parent during the 4th quarter valued at $298,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in E2open Parent by 18.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 473,011 shares of the company's stock valued at $1,258,000 after acquiring an additional 72,032 shares during the last quarter. Tidal Investments LLC purchased a new stake in E2open Parent in the fourth quarter worth $38,000. Finally, ProShare Advisors LLC lifted its position in shares of E2open Parent by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 57,629 shares of the company's stock worth $153,000 after purchasing an additional 18,962 shares during the last quarter.

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.