Opera Limited (NASDAQ:OPRA) Short Interest Down 22.5% in October

Opera Limited (NASDAQ:OPRA) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,340,000 shares, a decrease of 22.5% from the October 15th total of 1,730,000 shares. Based on an average trading volume of 518,600 shares, the days-to-cover ratio is presently 2.6 days.

Opera Stock Down 0.3 %

OPRA traded down $0.05 during trading on Friday, hitting $18.25. The company had a trading volume of 509,331 shares, compared to its average volume of 648,007. Opera has a 1-year low of $10.11 and a 1-year high of $19.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $1.61 billion, a PE ratio of 9.26 and a beta of 1.02. The business has a 50-day moving average of $15.92 and a 200-day moving average of $14.32.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $108.65 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same quarter last year, the company posted $0.15 earnings per share. As a group, analysts forecast that Opera will post 0.79 earnings per share for the current year.

Institutional Investors Weigh In On Opera

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Opera by 135.4% during the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after purchasing an additional 1,186 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Opera during the 3rd quarter valued at about $61,000. Blue Trust Inc. raised its stake in Opera by 334.7% during the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after acquiring an additional 3,216 shares during the period. Quantbot Technologies LP bought a new position in Opera in the third quarter worth about $74,000. Finally, EntryPoint Capital LLC grew its holdings in shares of Opera by 248.8% during the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after purchasing an additional 4,364 shares during the last quarter. 10.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on OPRA shares. B. Riley reiterated a “buy” rating and set a $25.00 price objective (up previously from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Lake Street Capital lifted their price target on shares of Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their target price on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Opera has a consensus rating of “Buy” and a consensus price target of $24.75.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.