Short Interest in eToro Group Ltd. (NASDAQ:ETOR) Expands By 17.5%

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ETOR shares. The Goldman Sachs Group reissued a “neutral” rating on shares of eToro Group in a research report on Monday, March 9th. Canaccord Genuity Group dropped their price target on shares of eToro Group from $78.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $58.00 price objective on shares of eToro Group in a report on Wednesday, February 18th. TD Cowen lowered their target price on shares of eToro Group from $54.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Finally, Mizuho dropped their target price on shares of eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating and seven have given 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 $58.44.

Hedge Funds Weigh In On eToro Group

A number of institutional investors have recently modified their holdings of ETOR. Caitong International Asset Management Co. Ltd purchased a new stake in eToro Group in the 4th quarter valued at $25,000. Blue Trust Inc. acquired a new position in eToro Group in the fourth quarter valued at $42,000. Newbridge Financial Services Group Inc. increased its stake in eToro Group by 45.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after purchasing an additional 555 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of eToro Group by 194.9% in the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock valued at $101,000 after buying an additional 1,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of eToro Group during the third quarter worth about $124,000.

eToro Group Stock Performance

Shares of NASDAQ ETOR traded up $0.44 during trading hours on Monday, reaching $30.55. The stock had a trading volume of 807,870 shares, compared to its average volume of 1,492,302. The firm has a market cap of $2.50 billion and a price-to-earnings ratio of 13.76. The company has a current ratio of 4.89, a quick ratio of 4.89 and a debt-to-equity ratio of 0.03. eToro Group has a fifty-two week low of $24.74 and a fifty-two week high of $79.96. The firm has a 50-day moving average of $30.61 and a 200-day moving average of $36.67.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.71 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 company had revenue of $3.87 billion for 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.