Opera Limited (NASDAQ:OPRA) Short Interest Up 22.7% in June

Opera Limited (NASDAQ:OPRA) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,700,000 shares, a growth of 22.7% from the May 31st total of 2,200,000 shares. Based on an average trading volume of 810,600 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th.

Institutional Trading of Opera

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. purchased a new position in Opera in the 3rd quarter valued at approximately $31,843,000. Hudson Bay Capital Management LP purchased a new position in Opera in the 3rd quarter valued at approximately $3,842,000. Walleye Capital LLC purchased a new position in Opera in the 3rd quarter valued at approximately $3,652,000. Toroso Investments LLC purchased a new position in Opera in the 3rd quarter valued at approximately $3,009,000. Finally, Roumell Asset Management LLC increased its stake in Opera by 169.2% in the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock valued at $4,986,000 after purchasing an additional 236,870 shares in the last quarter. 10.21% of the stock is owned by institutional investors and hedge funds.

Opera Stock Performance

Opera stock traded down $1.10 during mid-day trading on Tuesday, reaching $12.73. 1,604,820 shares of the company were exchanged, compared to its average volume of 912,586. Opera has a twelve month low of $10.30 and a twelve month high of $28.58. The firm’s 50-day simple moving average is $13.87 and its two-hundred day simple moving average is $13.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $1.13 billion, a PE ratio of 6.77 and a beta of 0.98.

Opera (NASDAQ:OPRA) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $101.87 million during the quarter, compared to analysts’ expectations of $100.60 million. Opera had a return on equity of 19.52% and a net margin of 41.00%. Equities analysts predict that Opera will post 0.78 earnings per share for the current fiscal year.

Opera Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a dividend yield of 5.6%. Opera’s dividend payout ratio is currently 41.49%.

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.