E2open Parent (NYSE:ETWO) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of E2open Parent (NYSE:ETWOGet Rating) from a hold rating to a sell rating in a report published 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 weighed in on ETWO. Bank of America upgraded shares of E2open Parent from a neutral rating to a buy rating in a report on Thursday, April 21st. Loop Capital decreased their price objective on shares of E2open Parent from $16.00 to $12.00 in a report on Thursday, April 28th. Craig Hallum started coverage on shares of E2open Parent in a report on Tuesday, January 25th. They set a buy rating and a $14.00 price objective for the company. Finally, Colliers Securities upgraded shares of E2open Parent from a neutral rating to a buy rating and set a $13.00 price objective for the company in a report on Wednesday, March 23rd.

Shares of ETWO opened at $7.99 on Monday. E2open Parent has a 1-year low of $7.14 and a 1-year high of $14.58. The company has a 50-day moving average of $8.39 and a 200 day moving average of $9.67. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -9.18, a PEG ratio of 0.87 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.

In other E2open Parent news, CEO Michael Farlekas purchased 12,775 shares of E2open Parent stock in a transaction dated Monday, May 2nd. The stock was acquired at an average price of $8.18 per share, for a total transaction of $104,499.50. Following the acquisition, the chief executive officer now owns 266,306 shares in the company, valued at approximately $2,178,383.08. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jarett Janik acquired 5,000 shares of E2open Parent stock in a transaction that occurred on Tuesday, May 3rd. The shares were purchased at an average price of $8.33 per share, with a total value of $41,650.00. Following the purchase, the chief financial officer now owns 83,270 shares in the company, valued at $693,639.10. The disclosure for this purchase can be found here. Insiders own 7.06% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP bought a new position in shares of E2open Parent during the 3rd quarter worth approximately $26,000. Nisa Investment Advisors LLC purchased a new stake in E2open Parent during the 1st quarter worth approximately $28,000. Point72 Hong Kong Ltd purchased a new stake in E2open Parent during the 1st quarter worth approximately $61,000. Wolverine Asset Management LLC grew 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 purchasing an additional 4,437 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in E2open Parent during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 98.09% of the company’s stock.

E2open Parent Company Profile (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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