E2open Parent (NYSE:ETWO) Upgraded to Hold at Zacks Investment Research

E2open Parent (NYSE:ETWOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “E2open Parent Holdings Inc. is a provider of supply chain management software. The Company’s software combines networks, data and applications to provide platform which allows customers to optimize their supply chain across channel shaping, business planning, logistics, global trade, manufacturing and supply management. E2open Parent Holdings Inc., formerly known as CC Neuberger Principal Holdings I, is based in AUSTIN, Texas. “

A number of other brokerages have also commented on ETWO. Bank of America raised E2open Parent from a “neutral” rating to a “buy” rating in a report on Thursday, April 21st. Colliers Securities raised E2open Parent from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, March 23rd. Loop Capital lowered their price target on E2open Parent from $16.00 to $12.00 in a report on Thursday, April 28th. Finally, Craig Hallum initiated coverage on E2open Parent in a report on Tuesday, January 25th. They set a “buy” rating and a $14.00 target price on the stock.

Shares of ETWO traded down $0.23 during trading hours on Monday, reaching $7.89. 1,992,830 shares of the company’s stock traded hands, compared to its average volume of 2,776,053. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -9.07, a P/E/G ratio of 0.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.81 and a quick ratio of 0.81. E2open Parent has a twelve month low of $7.14 and a twelve month high of $14.58. The business’s fifty day simple moving average is $8.38 and its two-hundred day simple moving average is $9.57.

In related news, Director Eva F. Huston sold 15,000 shares of E2open Parent stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $7.52, for a total value of $112,800.00. Following the transaction, the director now owns 52,912 shares of the company’s stock, valued at approximately $397,898.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jarett Janik purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was bought at an average cost of $8.33 per share, for a total transaction of $41,650.00. Following the purchase, the chief financial officer now directly owns 83,270 shares in the company, valued at approximately $693,639.10. The disclosure for this purchase can be found here. 7.06% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ETWO. Dark Forest Capital Management LP purchased a new position in E2open Parent in the 3rd quarter worth about $26,000. Nisa Investment Advisors LLC purchased a new position in E2open Parent in the 1st quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new position in E2open Parent in the 1st quarter worth about $61,000. Wolverine Asset Management LLC boosted its position in E2open Parent by 99.3% during the 1st quarter. Wolverine Asset Management LLC now owns 8,907 shares of the company’s stock worth $78,000 after acquiring an additional 4,437 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in E2open Parent during the 1st quarter worth about $99,000. 98.09% of the stock is currently owned by hedge funds and other institutional investors.

About E2open Parent (Get Rating)

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management SaaS platform in the Americas, Europe, and the Asia Pacific. The company's software solutions orchestrate supply chains and realize value and return on investment for its blue-chip customers. Its software combines networks, data, and applications to provide a platform that allows customers to optimize their supply chain across channel shaping, demand sensing, business planning, global trade management, transportation and logistics, collaborative manufacturing, and supply management.

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