eToro Group Ltd. (NASDAQ:ETOR) Short Interest Down 26.0% in March

Key Points

• Short interest dropped 26.0% in March to 2,603,338 shares (about 3.2% of shares sold short) with a short-interest ratio of 3.1 days.
• eToro shares recently traded at $36.93 (up $2.21) on heavy volume; the company posted an EPS of $0.71 vs. $0.60 expected on $3.87 billion of revenue, with a market cap around $3.03 billion and a P/E of 16.64.
• Institutions have been buying (notably T. Rowe Price, Adage, Invesco) and analysts show a consensus "Moderate Buy" with a $54.56 average price target.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 2,603,338 shares, a decline of 26.0% from the March 15th total of 3,518,982 shares. Based on an average daily volume of 846,858 shares, the short-interest ratio is currently 3.1 days. Approximately 3.2% of the shares of the company are sold short.

eToro Group Stock Performance

NASDAQ:ETOR traded up $2.21 during trading hours on Wednesday, reaching $36.93. The stock had a trading volume of 2,920,722 shares, compared to its average volume of 1,345,974. 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 stock has a 50 day simple moving average of $30.41 and a 200 day simple moving average of $34.55. eToro Group has a 12-month low of $24.74 and a 12-month high of $79.96. The stock has a market cap of $3.03 billion and a P/E ratio of 16.64.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.11. The business had revenue of $3.87 billion during the quarter. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.

Institutional Investors Weigh In On eToro Group

Institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of eToro Group by 67.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company's stock worth $59,571,000 after acquiring an additional 683,008 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of eToro Group by 47.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,240,339 shares of the company's stock valued at $43,573,000 after purchasing an additional 401,697 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in eToro Group during the 4th quarter worth about $43,136,000. Invesco Ltd. lifted its holdings in eToro Group by 14,120.4% during the 4th quarter. Invesco Ltd. now owns 974,243 shares of the company's stock worth $34,225,000 after purchasing an additional 967,392 shares in the last quarter. Finally, Capital World Investors boosted its stake in eToro Group by 2.6% in the 4th quarter. Capital World Investors now owns 900,903 shares of the company's stock worth $31,649,000 after purchasing an additional 22,934 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ETOR shares. Citizens Jmp decreased their target price on eToro Group from $90.00 to $85.00 and set a "market outperform" rating for the company in a research report on Friday, April 10th. Bank of America reissued a "neutral" rating on shares of eToro Group in a report on Wednesday, February 18th. Mizuho cut their price target on shares of eToro Group from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Friday, January 16th. Jefferies Financial Group boosted their price target on shares of eToro Group from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of eToro Group in a report on Wednesday, April 8th. They issued a "market perform" rating and a $35.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, eToro Group has an average rating of "Moderate Buy" and a consensus 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.

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