Opera (NASDAQ:OPRA) Trading Up 4.3% – Here’s Why

Shares of Opera Limited (NASDAQ:OPRA) traded up 4.3% during mid-day trading on Thursday . The stock traded as high as $19.93 and last traded at $19.82. 276,747 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 733,136 shares. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

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

Opera Price Performance

The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $17.82 and a two-hundred day moving average of $15.14. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 9.84 and a beta of 1.03.

Hedge Funds Weigh In On Opera

A number of large investors have recently made changes to their positions in OPRA. Portolan Capital Management LLC increased its position in shares of Opera by 63.5% in the third quarter. Portolan Capital Management LLC now owns 711,820 shares of the company’s stock valued at $10,998,000 after buying an additional 276,356 shares in the last quarter. Tidal Investments LLC increased its holdings in Opera by 62.4% during the 3rd quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock valued at $10,354,000 after acquiring an additional 257,469 shares in the last quarter. Harvey Capital Management Inc. acquired a new position in Opera during the third quarter worth about $2,420,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Opera by 44.0% in the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after purchasing an additional 84,001 shares in the last quarter. Finally, Penn Mutual Asset Management purchased a new position in shares of Opera during the 3rd quarter worth approximately $952,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.