Opera Limited (NASDAQ:OPRA) Short Interest Down 16.3% in February

Opera Limited (NASDAQ:OPRA) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decrease of 16.3% from the February 13th total of 1,720,000 shares. Approximately 10.4% of the shares of the stock are sold short. Based on an average trading volume of 507,800 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

Separately, Piper Sandler began coverage on Opera in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.80.

Institutional Investors Weigh In On Opera

A number of large investors have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in Opera by 99.7% during the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock worth $27,656,000 after buying an additional 729,001 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Opera by 75.6% during the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after acquiring an additional 506,425 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Opera by 7.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock valued at $17,644,000 after acquiring an additional 61,051 shares during the last quarter. Portolan Capital Management LLC boosted its position in shares of Opera by 5.1% during the 4th quarter. Portolan Capital Management LLC now owns 748,349 shares of the company’s stock valued at $14,174,000 after acquiring an additional 36,529 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Opera in the fourth quarter valued at about $10,646,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Price Performance

NASDAQ OPRA traded up $0.23 during trading hours on Tuesday, hitting $18.04. 66,138 shares of the company’s stock traded hands, compared to its average volume of 596,550. The company has a market capitalization of $1.60 billion, a PE ratio of 9.15 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Opera has a 52-week low of $10.11 and a 52-week high of $22.50. The firm’s 50-day moving average is $18.71 and its 200-day moving average is $17.71.

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.