Opera Limited (NASDAQ:OPRA) Sees Significant Decrease in Short Interest

Opera Limited (NASDAQ:OPRA) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 1,880,000 shares, a decrease of 17.9% from the August 31st total of 2,290,000 shares. Based on an average trading volume of 551,700 shares, the short-interest ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their price objective on Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd.

Opera Stock Performance

Opera stock traded up $0.32 during mid-day trading on Friday, hitting $14.98. 352,252 shares of the company’s stock traded hands, compared to its average volume of 329,498. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $17.31. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 7.97 and a beta of 1.03. The firm has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $14.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51.

Opera (NASDAQ:OPRA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Opera had a net margin of 40.85% and a return on equity of 19.59%. The firm had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $108.65 million. During the same period in the prior year, the firm earned $0.15 EPS. On average, research analysts expect that Opera will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Opera

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Opera by 2,428.7% during the 4th quarter. BNP Paribas Financial Markets now owns 37,299 shares of the company’s stock worth $493,000 after acquiring an additional 35,824 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Opera by 37.5% in the 4th quarter. D.A. Davidson & CO. now owns 30,461 shares of the company’s stock valued at $403,000 after purchasing an additional 8,311 shares during the last quarter. Roumell Asset Management LLC raised its holdings in shares of Opera by 169.2% during the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock worth $4,986,000 after buying an additional 236,870 shares in the last quarter. Penn Mutual Asset Management LLC bought a new stake in shares of Opera during the 4th quarter worth $662,000. Finally, Virtu Financial LLC acquired a new stake in Opera in the fourth quarter valued at about $432,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Opera Company Profile

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.