eToro Group (NASDAQ:ETOR) Reaches New 52-Week Low – Here’s What Happened

Shares of eToro Group Ltd. (NASDAQ:ETOR) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $23.40 and last traded at $23.5660, with a volume of 56,557 shares. The stock had previously closed at $23.92.

Analyst Ratings Changes

ETOR has been the subject of a number of recent research reports. Susquehanna lowered their price target on shares of eToro Group from $51.00 to $46.00 and set a “positive” rating for the company in a report on Tuesday, October 13th. Zacks Research lowered eToro Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Needham & Company LLC dropped their target price on shares of eToro Group from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. UBS Group reduced their price objective on eToro Group from $50.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.33.

eToro Group Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02. The firm has a 50 day moving average price of $27.90 and a 200-day moving average price of $34.19. The company has a market cap of $1.95 billion, a P/E ratio of 8.85, a P/E/G ratio of 0.68 and a beta of 1.79.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business had revenue of $1.59 billion for the quarter. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue was down 23.9% on a year-over-year basis. On average, research analysts predict that eToro Group Ltd. will post 2.48 EPS for the current year.

Insider Activity at eToro Group

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the sale, the director owned 196,779 shares of the company’s stock, valued at $6,139,504.80. The trade was a 33.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in shares of eToro Group in the first quarter valued at approximately $6,048,000. Sei Investments Co. bought a new position in shares of eToro Group in the 1st quarter valued at about $2,579,000. Saba Capital Management L.P. grew its position in shares of eToro Group by 156.2% during the 1st quarter. Saba Capital Management L.P. now owns 203,291 shares of the company’s stock worth $6,105,000 after buying an additional 123,952 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of eToro Group during the first quarter worth approximately $5,706,000. Finally, Renaissance Technologies LLC lifted its holdings in eToro Group by 51.9% in the first quarter. Renaissance Technologies LLC now owns 292,950 shares of the company’s stock valued at $8,797,000 after buying an additional 100,100 shares during the period.

eToro Group Company Profile

eToro Group Ltd. (NASDAQ: ETOR) operates a global, multi-asset investment and trading platform. Its services enable users to invest in stocks, exchange-traded funds, cryptocurrencies and other instruments, with product availability varying by jurisdiction and local regulations. In certain markets, eToro also offers contracts for difference and other leveraged products.

The company is known for combining online brokerage services with social-investing features. Users can view and discuss investment activity, follow other investors and use CopyTrader to automatically replicate the strategies of selected investors.