E2open Parent Holdings, Inc. (NYSE:ETWO) Sees Significant Decrease in Short Interest

E2open Parent Holdings, Inc. (NYSE:ETWO) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 13,770,000 shares, a decrease of 13.7% from the March 15th total of 15,950,000 shares. Based on an average trading volume of 1,890,000 shares, the days-to-cover ratio is currently 7.3 days. Currently, 5.7% of the company’s stock are sold short.

Institutional Trading of E2open Parent

A number of hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new stake in shares of E2open Parent in the second quarter valued at about $25,000. Cubist Systematic Strategies LLC increased its holdings in E2open Parent by 513.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 5,863 shares of the company’s stock valued at $34,000 after buying an additional 4,908 shares during the period. Quantbot Technologies LP acquired a new position in shares of E2open Parent in the 2nd quarter valued at $35,000. Hsbc Holdings PLC bought a new position in shares of E2open Parent during the 4th quarter worth about $48,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of E2open Parent during the 4th quarter valued at about $55,000.

Analyst Ratings Changes

ETWO has been the topic of a number of recent analyst reports. UBS Group raised their price objective on E2open Parent from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Morgan Stanley initiated coverage on shares of E2open Parent in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $4.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.29.

E2open Parent Stock Performance

Shares of ETWO stock traded down $0.01 during trading hours on Tuesday, reaching $4.00. 377,581 shares of the company’s stock were exchanged, compared to its average volume of 1,875,414. E2open Parent has a fifty-two week low of $2.15 and a fifty-two week high of $6.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.22 billion, a P/E ratio of -0.92, a P/E/G ratio of 17.03 and a beta of 1.02. The business has a fifty day moving average price of $4.17 and a 200-day moving average price of $3.84.

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 software solutions orchestrate supply chains and realize value and return on investment for its blue-chip customers. The company's software combines networks, data, and applications to provide a platform that allows customers to optimize their channel and supply chain across channel shaping, demand sensing, business planning, global trade management, transportation and logistics, collaborative manufacturing, and supply management.