Opera (NASDAQ:OPRA) Hits New 12-Month High – Here’s Why

Opera Limited (NASDAQ:OPRA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.87 and last traded at $18.69, with a volume of 309463 shares trading hands. The stock had previously closed at $16.87.

Wall Street Analyst Weigh In

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

Opera Stock Performance

The business’s fifty day moving average price is $14.92 and its two-hundred day moving average price is $13.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a market capitalization of $1.68 billion, a P/E ratio of 10.24 and a beta of 1.04.

Opera (NASDAQ:OPRA) last posted its earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $108.65 million. During the same period in the previous year, the firm posted $0.15 EPS. As a group, sell-side analysts forecast that Opera Limited will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Opera

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after buying an additional 1,186 shares during the period. Blue Trust Inc. boosted its position in Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after buying an additional 3,216 shares during the period. EntryPoint Capital LLC boosted its position in 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 buying an additional 4,364 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Opera in the 2nd quarter valued at about $112,000. Finally, National Bank of Canada FI boosted its position in Opera by 1,474.9% in the 2nd quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after buying an additional 7,640 shares during the period. 10.21% of the stock is owned by hedge funds and other institutional investors.

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.