E2open Parent (NYSE:ETWO) Sees Strong Trading Volume – Still a Buy?

E2open Parent Holdings, Inc. (NYSE:ETWO) shares saw unusually-strong trading volume on Tuesday . Approximately 3,537,501 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 2,977,808 shares.The stock last traded at $3.24 and had previously closed at $3.24.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of E2open Parent from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group dropped their price objective on shares of E2open Parent from $2.60 to $2.30 and set a “sell” rating on the stock in a report on Friday, March 28th. UBS Group reduced their target price on shares of E2open Parent from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley boosted their price target on E2open Parent from $2.10 to $3.30 and gave the company an “equal weight” rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.78.

E2open Parent Stock Down 0.2%

The business’s fifty day moving average price is $2.70 and its 200 day moving average price is $2.56. The company has a market capitalization of $1.11 billion, a P/E ratio of -1.51 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.18.

E2open Parent (NYSE:ETWO) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $153.50 million during the quarter, compared to analyst estimates of $153.01 million. E2open Parent had a negative net margin of 108.58% and a positive return on equity of 5.59%. As a group, equities research analysts predict that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Neuberger Berman Group Llc sold 30,607,831 shares of E2open Parent stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $3.21, for a total transaction of $98,251,137.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of E2open Parent

Several large investors have recently added to or reduced their stakes in ETWO. Jane Street Group LLC acquired a new position in shares of E2open Parent in the 1st quarter worth approximately $525,000. Empowered Funds LLC boosted its stake in E2open Parent by 5.6% in the first quarter. Empowered Funds LLC now owns 1,130,653 shares of the company’s stock worth $2,261,000 after purchasing an additional 60,237 shares in the last quarter. Nexpoint Asset Management L.P. grew its holdings in shares of E2open Parent by 149.5% during the first quarter. Nexpoint Asset Management L.P. now owns 323,920 shares of the company’s stock worth $648,000 after purchasing an additional 194,110 shares during the last quarter. Millennium Management LLC increased its stake in shares of E2open Parent by 285.8% in the first quarter. Millennium Management LLC now owns 1,856,005 shares of the company’s stock valued at $3,712,000 after buying an additional 1,374,985 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of E2open Parent by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,258 shares of the company’s stock valued at $245,000 after buying an additional 5,205 shares during the last quarter.

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.