eToro Group Ltd. (NASDAQ:ETOR) Sees Large Increase in Short Interest

eToro Group Ltd. (NASDAQ:ETOR) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 3,952,840 shares, a growth of 17.5% from the February 12th total of 3,364,062 shares. Based on an average trading volume of 1,860,890 shares, the short-interest ratio is presently 2.1 days. Currently, 4.8% of the shares of the company are sold short. Currently, 4.8% of the shares of the company are sold short. Based on an average trading volume of 1,860,890 shares, the short-interest ratio is presently 2.1 days.

Analyst Ratings Changes

A number of brokerages have commented on ETOR. Needham & Company LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of eToro Group in a research report on Wednesday, February 18th. The Goldman Sachs Group restated a “neutral” rating on shares of eToro Group in a research note on Monday, March 9th. Zacks Research cut eToro Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Bank of America reissued a “neutral” rating on shares of eToro Group in a report on Wednesday, February 18th. Finally, TD Cowen dropped their price objective on shares of eToro Group from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, eToro Group presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Hedge Funds Weigh In On eToro Group

Several institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new stake in shares of eToro Group during the second quarter worth approximately $6,665,000. Federated Hermes Inc. bought a new position in shares of eToro Group in the second quarter valued at approximately $11,320,000. Norges Bank acquired a new position in shares of eToro Group in the 2nd quarter worth approximately $16,315,000. Farther Finance Advisors LLC acquired a new position in shares of eToro Group in the 3rd quarter worth approximately $1,996,000. Finally, Ibex Investors LLC bought a new stake in eToro Group during the 3rd quarter worth approximately $1,663,000.

eToro Group Stock Performance

Shares of NASDAQ:ETOR opened at $31.14 on Wednesday. The business’s fifty day moving average price is $30.42 and its two-hundred day moving average price is $36.48. eToro Group has a fifty-two week low of $24.74 and a fifty-two week high of $79.96. The stock has a market capitalization of $2.55 billion and a price-to-earnings ratio of 14.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.89 and a quick ratio of 4.89.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The firm had revenue of $3.87 billion during the quarter.

About eToro Group

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.