Opera Limited (NASDAQ:OPRA) Short Interest Update

Opera Limited (NASDAQ:OPRA - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,900,000 shares, a drop of 27.8% from the April 30th total of 2,630,000 shares. Based on an average trading volume of 534,900 shares, the days-to-cover ratio is currently 3.6 days. Currently, 13.7% of the company's shares are sold short.

Institutional Investors Weigh In On Opera

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in Opera by 2,065.1% during the fourth quarter. US Bancorp DE now owns 1,364 shares of the company's stock worth $26,000 after purchasing an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Opera by 74.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after purchasing an additional 674 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Opera by 229.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company's stock worth $42,000 after purchasing an additional 1,548 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Opera in the 1st quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd boosted its position in shares of Opera by 457.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company's stock valued at $74,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 10.21% of the company's stock.

Opera Stock Up 0.3%

Shares of NASDAQ:OPRA traded up $0.05 during trading hours on Tuesday, reaching $18.17. The stock had a trading volume of 314,377 shares, compared to its average volume of 561,724. Opera has a 1 year low of $10.11 and a 1 year high of $22.50. The firm's 50 day moving average is $16.43 and its 200-day moving average is $18.03. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 9.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10.

Opera (NASDAQ:OPRA - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. Opera had a return on equity of 19.22% and a net margin of 39.22%. During the same quarter in the prior year, the company posted $0.34 earnings per share. Research analysts predict that Opera will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OPRA has been the topic of several research reports. Wall Street Zen raised shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Piper Sandler started coverage on shares of Opera in a report on Wednesday, February 5th. They set an "overweight" rating and a $25.00 target price on the stock. The Goldman Sachs Group reduced their price objective on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Lake Street Capital lifted their target price on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Opera has an average rating of "Buy" and a consensus target price of $24.90.

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.