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

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of eToro Group in the 4th quarter valued at about $25,000. Blue Trust Inc. purchased a new position in eToro Group during the 4th quarter worth approximately $42,000. Newbridge Financial Services Group Inc. grew its stake in eToro Group by 45.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock worth $74,000 after buying an additional 555 shares during the last quarter. Jones Financial Companies Lllp grew its stake in eToro Group by 194.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $101,000 after buying an additional 1,631 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in eToro Group during the 2nd quarter worth approximately $184,000.

eToro Group Trading Down 0.5%

ETOR opened at $35.58 on Friday. eToro Group has a one year low of $24.74 and a one year high of $79.96. The company has a market cap of $2.91 billion and a P/E ratio of 16.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.89 and a current ratio of 4.89. The business’s 50-day simple moving average is $32.31 and its 200-day simple moving average is $34.33.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.71 EPS for the quarter, beating 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 business had revenue of $3.87 billion for the quarter. As a group, equities research analysts expect that eToro Group will post 2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ETOR has been the topic of several recent research reports. Bank of America restated a “neutral” rating on shares of eToro Group in a report on Wednesday, February 18th. Citizens Jmp cut their price target on eToro Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a report on Friday, April 10th. Zacks Research downgraded eToro Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Jefferies Financial Group upped their price target on eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $58.00 price target on shares of eToro Group in a report on Wednesday, February 18th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, eToro Group currently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

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.