eToro Group (NASDAQ:ETOR) Trading Down 5.7% - Should You Sell?

Key Points

• eToro Group Ltd. (NASDAQ:ETOR) experienced a 5.7% decline in its stock price, trading as low as $54.52 during mid-day trading, with a notable decrease in share volume.
• Several major research firms have begun coverage of eToro Group, with ratings ranging from "buy" to "neutral", and target prices between $65.00 and $80.00.
• Institutional investors, including Sumitomo Mitsui Trust Group and ARK Investment Management, have recently acquired significant stakes in eToro Group during the second quarter.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) fell 5.7% during mid-day trading on Monday . The company traded as low as $54.52 and last traded at $54.65. 476,049 shares changed hands during trading, a decline of 64% from the average session volume of 1,323,310 shares. The stock had previously closed at $57.93.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ETOR. Citigroup started coverage on shares of eToro Group in a research note on Monday, June 9th. They set a "neutral" rating and a $72.00 target price for the company. Jefferies Financial Group initiated coverage on shares of eToro Group in a report on Monday, June 9th. They issued a "buy" rating and a $80.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of eToro Group in a research note on Monday, June 9th. They issued a "buy" rating and a $76.00 price target on the stock. Keefe, Bruyette & Woods assumed coverage on shares of eToro Group in a research report on Monday, June 9th. They set a "market perform" rating and a $65.00 target price on the stock. Finally, Canaccord Genuity Group began coverage on shares of eToro Group in a research report on Monday, June 9th. They set a "buy" rating and a $78.00 target price on the stock. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, eToro Group has a consensus rating of "Moderate Buy" and a consensus target price of $75.63.

eToro Group Price Performance

The firm's 50 day simple moving average is $61.64. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.69 EPS for the quarter. The business had revenue of $3.76 billion for the quarter.

Institutional Trading of eToro Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ETOR. Sumitomo Mitsui Trust Group Inc. bought a new stake in eToro Group during the 2nd quarter valued at $28,048,000. ARK Investment Management LLC bought a new stake in shares of eToro Group in the 2nd quarter worth $16,516,000. Geode Capital Management LLC bought a new stake in shares of eToro Group in the 2nd quarter worth $7,816,000. TD Asset Management Inc bought a new stake in shares of eToro Group in the 2nd quarter worth $7,499,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of eToro Group in the 2nd quarter worth $5,853,000.

About eToro Group

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