Opera Limited (NASDAQ:OPRA) Sees Large Growth in Short Interest

Opera Limited (NASDAQ:OPRA - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,600,000 shares, an increase of 43.6% from the March 31st total of 1,810,000 shares. Currently, 18.8% of the company's shares are short sold. Based on an average daily trading volume, of 487,000 shares, the short-interest ratio is currently 5.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OPRA. Calton & Associates Inc. acquired a new position in shares of Opera during the 1st quarter worth about $51,000. SBI Securities Co. Ltd. boosted its stake in shares of Opera by 56.7% during the first quarter. SBI Securities Co. Ltd. now owns 10,992 shares of the company's stock valued at $175,000 after purchasing an additional 3,976 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Opera by 24.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,000 shares of the company's stock worth $271,000 after buying an additional 3,300 shares during the period. Spire Wealth Management raised its position in shares of Opera by 4,112.2% in the 1st quarter. Spire Wealth Management now owns 37,910 shares of the company's stock worth $604,000 after acquiring an additional 37,010 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Opera during the first quarter worth $1,077,000. Institutional investors own 10.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OPRA. Piper Sandler began coverage on Opera in a research note on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 price target on the stock. The Goldman Sachs Group decreased their price objective on shares of Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Lake Street Capital lifted their target price on shares of Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $24.90.

Opera Stock Down 0.4 %

Shares of NASDAQ OPRA traded down $0.07 during mid-day trading on Monday, reaching $17.40. The company had a trading volume of 425,275 shares, compared to its average volume of 511,320. 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 has a 12-month low of $10.11 and a 12-month high of $22.50. The stock has a fifty day moving average of $16.40 and a two-hundred day moving average of $17.97. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 8.83 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. Opera had a net margin of 39.22% and a return on equity of 19.22%. The business had revenue of $142.72 million for the quarter, compared to the consensus estimate of $132.48 million. During the same quarter last year, the company posted $0.34 earnings per share. As a group, equities research analysts expect that Opera will post 0.81 EPS for the current year.

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.