Opera Limited (NASDAQ:OPRA) Sees Large Drop in Short Interest

Opera Limited (NASDAQ:OPRA) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,730,000 shares, a decrease of 19.2% from the September 30th total of 2,140,000 shares. Based on an average daily volume of 477,200 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Opera

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Opera by 135.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after purchasing an additional 1,186 shares in the last quarter. Redwood Wealth Management Group LLC raised its position in shares of Opera by 4.5% in the second quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock worth $472,000 after buying an additional 1,440 shares in the last quarter. Inspire Investing LLC boosted its stake in Opera by 2.7% during the third quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after buying an additional 1,539 shares during the period. Ritholtz Wealth Management grew its position in Opera by 9.6% during the second quarter. Ritholtz Wealth Management now owns 18,284 shares of the company’s stock worth $257,000 after buying an additional 1,595 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Opera by 2.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,761 shares of the company’s stock worth $1,356,000 after acquiring an additional 1,804 shares during the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Performance

Shares of OPRA opened at $18.57 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51. The firm has a market cap of $1.64 billion, a PE ratio of 9.88 and a beta of 1.04. Opera has a 1 year low of $10.11 and a 1 year high of $19.69. The stock’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $13.94.

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

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.