Opera Limited (NASDAQ:OPRA) Short Interest Update

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

Wall Street Analysts Forecast Growth

OPRA has been the subject of several recent research reports. 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 for the company. The Goldman Sachs Group reduced their price objective on shares of Opera from $26.00 to $22.50 and set a "buy" rating for the company 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 research report on Tuesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $24.90.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its position 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 during the period. Jones Financial Companies Lllp lifted its stake in shares of Opera by 74.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after buying an additional 674 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Opera by 229.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company's stock worth $42,000 after buying an additional 1,548 shares during the period. GAMMA Investing LLC grew its stake in Opera by 66.3% in the 4th quarter. GAMMA Investing LLC now owns 3,430 shares of the company's stock valued at $65,000 after buying an additional 1,368 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in 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 acquiring an additional 3,200 shares during the period. 10.21% of the stock is owned by institutional investors and hedge funds.

Opera Stock Performance

NASDAQ OPRA traded up $0.29 on Friday, hitting $17.47. 505,316 shares of the stock were exchanged, compared to its average volume of 568,388. The business's fifty day moving average is $16.40 and its 200 day moving average is $17.95. Opera has a 52 week low of $10.11 and a 52 week high of $22.50. The company has a market capitalization of $1.55 billion, a PE ratio of 8.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

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

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.