eToro Group Ltd. (NASDAQ:ETOR) Sees Significant Growth in Short Interest

eToro Group Ltd. (NASDAQ:ETOR) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 2,950,005 shares, a growth of 13.3% from the March 31st total of 2,603,338 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,118,770 shares, the days-to-cover ratio is presently 2.6 days.

eToro Group Stock Down 0.5%

eToro Group stock opened at $35.58 on Friday. eToro Group has a twelve month low of $24.74 and a twelve month high of $79.96. The stock has a 50 day moving average of $32.31 and a two-hundred day moving average of $34.33. 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 stock has a market capitalization of $2.91 billion and a price-to-earnings ratio of 16.03.

eToro Group (NASDAQ:ETOR) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The company had revenue of $3.87 billion during the quarter. As a group, research analysts expect that eToro Group will post 2.55 earnings per share for the current year.

Institutional Trading of eToro Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Meitav Investment House Ltd. acquired a new stake in shares of eToro Group in the 1st quarter valued at approximately $387,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of eToro Group in the 1st quarter valued at approximately $2,692,000. SG Americas Securities LLC acquired a new stake in shares of eToro Group in the 1st quarter valued at approximately $3,192,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of eToro Group in the 4th quarter valued at approximately $25,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of eToro Group by 67.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock valued at $59,571,000 after buying an additional 683,008 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ETOR shares. Bank of America restated a “neutral” rating on shares of eToro Group in a research note on Wednesday, February 18th. Keefe, Bruyette & Woods started coverage on eToro Group in a research note on Wednesday, April 8th. They set a “market perform” rating and a $35.00 price target on the stock. TD Cowen dropped their price target on eToro Group from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Zacks Research downgraded eToro Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group increased their price objective on eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

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.