Short Interest in Opera Limited (NASDAQ:OPRA) Declines By 22.5%

Opera Limited (NASDAQ:OPRA) was the recipient of a large decrease in short interest in 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 daily trading volume, of 518,600 shares, the days-to-cover ratio is currently 2.6 days.

Opera Trading Down 0.3 %

OPRA traded down $0.05 during midday trading on Friday, hitting $18.25. The company’s stock had a trading volume of 509,331 shares, compared to its average volume of 648,007. Opera has a 52-week low of $10.11 and a 52-week high of $19.69. The firm has a 50-day moving average price of $15.92 and a two-hundred day moving average price of $14.32. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.61 billion, a P/E ratio of 9.26 and a beta of 1.02.

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 firm had revenue of $109.73 million during the quarter, compared to analyst estimates of $108.65 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, research analysts anticipate that Opera will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

OPRA has been the topic of a number of analyst reports. Lake Street Capital raised their price target on Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. B. Riley reaffirmed 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. TD Cowen upped their target price on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $24.75.

Institutional Investors Weigh In On Opera

A number of institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of Opera in the 1st quarter valued at about $475,000. Avantax Advisory Services Inc. grew its stake in Opera by 56.8% during the first quarter. Avantax Advisory Services Inc. now owns 24,597 shares of the company’s stock worth $389,000 after buying an additional 8,915 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Opera by 2.1% in the first 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 in the last quarter. EntryPoint Capital LLC raised its stake in shares of Opera by 248.8% in the 1st quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after acquiring an additional 4,364 shares during the period. Finally, Caxton Associates LP lifted its holdings in shares of Opera by 103.5% during the 1st quarter. Caxton Associates LP now owns 72,629 shares of the company’s stock valued at $1,148,000 after acquiring an additional 36,931 shares in the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.