E2open Parent Holdings, Inc. (NYSE:ETWO) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group lifted their price objective on E2open Parent from $4.00 to $4.50 and gave the stock 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 set an “equal weight” rating and a $4.00 price target on the stock. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.29.

E2open Parent Stock Down 0.9 %

E2open Parent stock traded down $0.03 during midday trading on Tuesday, hitting $3.98. 1,676,687 shares of the company’s stock were exchanged, compared to its average volume of 1,878,649. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $1.22 billion, a PE ratio of -0.92, a P/E/G ratio of 17.03 and a beta of 1.02. The firm has a 50-day moving average of $4.17 and a two-hundred day moving average of $3.84. E2open Parent has a 12 month low of $2.15 and a 12 month high of $6.90.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ETWO. State of Wyoming acquired a new stake in shares of E2open Parent in the second quarter worth $25,000. Quantbot Technologies LP acquired a new position in shares of E2open Parent in the 2nd quarter valued at about $35,000. Cubist Systematic Strategies LLC lifted its holdings in shares of 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. Point72 Hong Kong Ltd purchased a new stake in shares of E2open Parent in the first quarter worth about $61,000. Finally, Hsbc Holdings PLC acquired a new position in E2open Parent in the 4th quarter worth about $48,000.

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 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.