eToro Group (NASDAQ:ETOR) Hits New 1-Year Low Following Analyst Downgrade

eToro Group Ltd. (NASDAQ:ETOR) shares 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 traded. The stock had previously closed at $23.92.

A number of other equities research analysts have also issued reports on ETOR. Wall Street Zen lowered shares of eToro Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Needham & Company LLC reduced their price target on shares of eToro Group from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Citizens Jmp decreased their price objective on shares of eToro Group from $90.00 to $75.00 and set a “market outperform” rating for the company in a research note on Friday, October 9th. Keefe, Bruyette & Woods lowered their price objective on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 12th. Finally, Cantor Fitzgerald cut their target price on shares of eToro Group from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.00.

Insider Buying and Selling

In other news, Director Shalev Eddy sold 100,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the transaction, the director owned 196,779 shares in the company, valued at $6,139,504.80. This represents 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 Inflows and Outflows

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

eToro Group Stock Performance

The firm’s fifty day moving average price is $27.63 and its 200 day moving average price 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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $1.59 billion for the quarter. The company’s quarterly revenue was down 23.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. As a group, sell-side analysts predict that eToro Group Ltd. will post 2.28 earnings per share for the current year.

eToro Group Company Profile

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.