Opera Limited (NASDAQ:OPRA) Short Interest Update

Opera Limited (NASDAQ:OPRA) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,730,000 shares, a decline of 19.2% from the September 30th total of 2,140,000 shares. Based on an average trading volume of 477,200 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPRA. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 1,186 shares during the last quarter. Blue Trust Inc. boosted its stake in Opera by 334.7% during the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after buying an additional 3,216 shares during the period. EntryPoint Capital LLC increased its position in Opera by 248.8% during the first 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 last quarter. National Bank of Canada FI raised 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 valued at $112,000 after acquiring an additional 7,640 shares during the period. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Opera in the second quarter worth approximately $112,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Up 10.1 %

Shares of OPRA stock opened at $18.57 on Wednesday. The company’s fifty day moving average price is $15.03 and its 200-day moving average price is $13.96. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.88 and a beta of 1.04. Opera has a one year low of $10.11 and a one year high of $19.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51.

Opera (NASDAQ:OPRA) last posted its earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $108.65 million. During the same period last year, the firm posted $0.15 earnings per share. Sell-side analysts expect that Opera will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their target price on shares of Opera from $22.00 to $24.00 and gave the company a “buy” rating in a research note 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.