Short Interest in eToro Group Ltd. (NASDAQ:ETOR) Drops By 26.0%

eToro Group Ltd. (NASDAQ:ETOR) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 2,603,338 shares, a decline of 26.0% from the March 15th total of 3,518,982 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 846,858 shares, the short-interest ratio is currently 3.1 days.

eToro Group Stock Performance

Shares of NASDAQ:ETOR traded down $0.34 during trading on Friday, reaching $37.66. 1,325,444 shares of the stock were exchanged, compared to its average volume of 1,060,434. eToro Group has a 12 month low of $24.74 and a 12 month high of $79.96. The stock has a 50-day moving average price of $30.89 and a 200-day moving average price of $34.55. The company has a current ratio of 4.89, a quick ratio of 4.89 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.09 billion and a PE ratio of 16.96.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The business had revenue of $3.87 billion during the quarter. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.

Wall Street Analyst Weigh In

A number of analysts have commented on ETOR shares. Jefferies Financial Group increased their price target on shares of eToro Group from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Zacks Research downgraded shares of eToro Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Mizuho reduced their price target on eToro Group from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, January 16th. Bank of America restated a “neutral” rating on shares of eToro Group in a research note on Wednesday, February 18th. Finally, TD Cowen decreased their target price on eToro Group from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in shares of eToro Group in the second quarter valued at approximately $669,000. Invesco Ltd. bought a new position in eToro Group during the 2nd quarter worth $15,392,000. Nebula Research & Development LLC acquired a new position in eToro Group in the 2nd quarter valued at $272,000. Squarepoint Ops LLC acquired a new stake in shares of eToro Group during the 2nd quarter worth $1,270,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of eToro Group during the 2nd quarter worth $1,333,000.

eToro Group Company Profile

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.