eToro Group Ltd. (NASDAQ:ETOR) Short Interest Up 13.3% in April

eToro Group Ltd. (NASDAQ:ETOR) saw 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 daily volume of 1,118,770 shares, the short-interest ratio is currently 2.6 days. Approximately 3.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $58.00 price target on shares of eToro Group in a research report on Wednesday, February 18th. Jefferies Financial Group upped their price target on eToro Group from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Bank of America reissued a “neutral” rating on shares of eToro Group in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods assumed coverage on eToro Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $35.00 price target on the stock. Finally, Mizuho dropped their price target on 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.56.

Institutional Trading of eToro Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETOR. Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group during the fourth quarter valued at approximately $25,000. Blue Trust Inc. acquired a new stake in eToro Group during the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. lifted its stake in eToro Group by 45.1% during 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 last quarter. Jones Financial Companies Lllp lifted its stake in eToro Group by 194.9% during the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock valued at $101,000 after purchasing an additional 1,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in eToro Group during the third quarter valued at approximately $124,000.

eToro Group Stock Performance

Shares of NASDAQ:ETOR traded up $1.33 on Friday, hitting $36.91. The company’s stock had a trading volume of 739,618 shares, compared to its average volume of 1,178,892. eToro Group has a 12 month low of $24.74 and a 12 month high of $79.96. The company has a market capitalization of $3.06 billion and a price-to-earnings ratio of 16.63. The stock’s 50-day moving average is $32.31 and its two-hundred day moving average is $34.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.89 and a current ratio of 4.89.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Wednesday, February 18th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts forecast that eToro Group will post 2.55 EPS for the current year.

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.