eToro Group (NASDAQ:ETOR) Sets New 1-Year Low After Analyst Downgrade

Shares of eToro Group Ltd. (NASDAQ:ETOR) hit a new 52-week low during trading on Monday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $23.40 and last traded at $23.5660, with a volume of 56,557 shares changing hands. The stock had previously closed at $23.92.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods cut their price target on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings downgraded eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 25th. Mizuho decreased their target price on eToro Group from $52.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Canaccord Genuity Group lowered their target price on eToro Group from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Finally, Bank of America reaffirmed a “neutral” rating on shares of eToro Group in a research report on Monday, October 5th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.00.

Insider Activity at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the transaction, the director owned 196,779 shares in the company, valued at $6,139,504.80. The trade was a 33.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of eToro Group

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of eToro Group by 365.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock worth $28,000 after acquiring an additional 727 shares during the period. Nisa Investment Advisors LLC grew its position in shares of eToro Group by 109.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the company’s stock worth $28,000 after buying an additional 578 shares during the period. Asset Management One Co. Ltd. grew its position in shares of eToro Group by 42.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,590 shares of the company’s stock worth $41,000 after buying an additional 476 shares during the period. State of Wyoming increased its stake in shares of eToro Group by 180.0% in the 1st quarter. State of Wyoming now owns 1,932 shares of the company’s stock worth $58,000 after acquiring an additional 1,242 shares in the last quarter. Finally, CI Investments Inc. bought a new position in shares of eToro Group in the 1st quarter worth about $227,000.

eToro Group Stock Performance

The business’s 50-day moving average is $27.63 and its 200-day moving average is $32.82.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $1.59 billion during the quarter. During the same quarter in the previous year, the business posted $0.56 EPS. The business’s revenue for the quarter was down 23.9% on a year-over-year basis. As a group, equities analysts anticipate that eToro Group Ltd. will post 2.28 earnings per share for the current year.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) operates a global, multi-asset investment and trading platform. Its services enable users to invest in stocks, exchange-traded funds, cryptocurrencies and other instruments, with product availability varying by jurisdiction and local regulations. In certain markets, eToro also offers contracts for difference and other leveraged products.

The company is known for combining online brokerage services with social-investing features. Users can view and discuss investment activity, follow other investors and use CopyTrader to automatically replicate the strategies of selected investors.