E2open Parent Holdings, Inc. (NYSE:ETWO) Short Interest Down 7.5% in December

E2open Parent Holdings, Inc. (NYSE:ETWO) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 10,520,000 shares, a decline of 7.5% from the November 30th total of 11,370,000 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 6.4 days.

Hedge Funds Weigh In On E2open Parent

Several institutional investors have recently made changes to their positions in ETWO. nVerses Capital LLC acquired a new stake in E2open Parent during the second quarter valued at $48,000. Canada Pension Plan Investment Board purchased a new stake in shares of E2open Parent during the 2nd quarter worth about $50,000. MQS Management LLC acquired a new stake in shares of E2open Parent during the 3rd quarter valued at about $57,000. Dark Forest Capital Management LP purchased a new position in shares of E2open Parent in the 2nd quarter valued at about $98,000. Finally, US Bancorp DE raised its holdings in E2open Parent by 2,028.3% in the 3rd quarter. US Bancorp DE now owns 37,267 shares of the company’s stock worth $164,000 after purchasing an additional 35,516 shares during the period.

E2open Parent Stock Performance

NYSE ETWO traded up $0.08 on Wednesday, reaching $2.66. 975,452 shares of the company’s stock traded hands, compared to its average volume of 1,920,327. The stock has a 50 day moving average price of $3.01 and a 200-day moving average price of $3.80. The firm has a market cap of $911.50 million, a price-to-earnings ratio of -1.04, a P/E/G ratio of 1.16 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.03. E2open Parent has a fifty-two week low of $2.52 and a fifty-two week high of $5.07.

E2open Parent (NYSE:ETWO) last posted 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 firm had revenue of $152.19 million for the quarter, compared to analyst estimates of $152.33 million. Equities research analysts predict that E2open Parent will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETWO. The Goldman Sachs Group cut E2open Parent from a “neutral” rating to a “sell” rating and decreased their price target for the company from $3.50 to $2.90 in a research note on Wednesday, December 11th. Loop Capital dropped their price objective on shares of E2open Parent from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Monday, December 23rd.

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.