Opera Limited (NASDAQ:OPRA) Short Interest Update

Opera Limited (NASDAQ:OPRA) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 1,880,000 shares, a drop of 17.9% from the August 31st total of 2,290,000 shares. Based on an average trading volume of 551,700 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Investors Weigh In On Opera

Large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC increased its holdings in Opera by 248.8% in the 1st quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock worth $97,000 after buying an additional 4,364 shares during the period. National Bank of Canada FI increased its stake in shares of Opera by 1,474.9% in the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after acquiring an additional 7,640 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Opera during the second quarter worth $112,000. Allspring Global Investments Holdings LLC acquired a new position in Opera during the second quarter valued at $147,000. Finally, Annex Advisory Services LLC purchased a new stake in Opera in the first quarter valued at $158,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera Stock Up 1.1 %

Shares of Opera stock traded up $0.17 during trading on Monday, reaching $15.15. The company’s stock had a trading volume of 36,630 shares, compared to its average volume of 786,074. Opera has a 1-year low of $10.11 and a 1-year high of $17.31. The company has a 50-day simple moving average of $13.57 and a two-hundred day simple moving average of $13.99. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 7.97 and a beta of 1.03.

Opera (NASDAQ:OPRA) last issued its quarterly 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. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. Opera had a return on equity of 19.59% and a net margin of 40.85%. During the same quarter in the previous year, the firm earned $0.15 earnings per share. As a group, equities analysts forecast that Opera will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

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

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.