E2open Parent (NYSE:ETWO) Sees Unusually-High Trading Volume After Analyst Upgrade

E2open Parent Holdings, Inc. (NYSE:ETWO - Get Free Report) shares saw unusually-strong trading volume on Wednesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. Approximately 6,389,821 shares traded hands during trading, an increase of 147% from the previous session's volume of 2,585,833 shares.The stock last traded at $3.21 and had previously closed at $3.20.

A number of other analysts also recently commented on ETWO. UBS Group dropped their price objective on E2open Parent from $3.00 to $2.50 and set a "neutral" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their price target on E2open Parent from $2.60 to $2.30 and set a "sell" rating for the company in a research note on Friday, March 28th. Finally, Morgan Stanley lifted their price objective on E2open Parent from $2.10 to $3.30 and gave the company an "equal weight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2.78.

Insider Activity at E2open Parent

In other news, major shareholder Neuberger Berman Group Llc sold 30,607,831 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $3.21, for a total value of $98,251,137.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.70% of the company's stock.

Institutional Trading of E2open Parent

Large investors have recently bought and sold shares of the company. Bayesian Capital Management LP acquired a new position in shares of E2open Parent during the fourth quarter worth $35,000. Tidal Investments LLC acquired a new position in E2open Parent in the 4th quarter worth $38,000. Teacher Retirement System of Texas purchased a new position in E2open Parent in the 1st quarter valued at about $45,000. AQR Capital Management LLC grew its stake in shares of E2open Parent by 88.1% during the first quarter. AQR Capital Management LLC now owns 42,673 shares of the company's stock valued at $85,000 after acquiring an additional 19,991 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of E2open Parent during the fourth quarter valued at about $86,000.

E2open Parent Stock 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 50-day moving average price of $2.31 and a 200-day moving average price of $2.55. The firm has a market capitalization of $1.10 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04.

E2open Parent (NYSE:ETWO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The firm had revenue of $153.50 million for the quarter, compared to the consensus estimate of $153.01 million. E2open Parent had a negative net margin of 74.63% and a positive return on equity of 4.38%. On average, research analysts expect that E2open Parent Holdings, Inc. will post 0.19 EPS for the current fiscal year.

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.