Opera Limited Sponsored ADR (NASDAQ:OPRA) Short Interest Down 21.6% in April

Opera Limited Sponsored ADR (NASDAQ:OPRA) saw a large drop in short interest in April. As of April 15th, there was short interest totaling 1,858,877 shares, a drop of 21.6% from the March 31st total of 2,371,870 shares. Based on an average daily volume of 466,519 shares, the short-interest ratio is currently 4.0 days. Approximately 13.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Opera

Several large investors have recently made changes to their positions in OPRA. Foster Dykema Cabot & Partners LLC bought a new stake in Opera during the 3rd quarter valued at approximately $42,000. Huntington National Bank lifted its holdings in shares of Opera by 37.8% during the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after buying an additional 906 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the second quarter worth approximately $83,000. Ascentis Independent Advisors bought a new stake in shares of Opera in the first quarter valued at approximately $141,000. Finally, Quent Capital LLC acquired a new stake in shares of Opera in the fourth quarter worth $212,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Opera Trading Up 2.3%

Opera stock traded up $0.40 during trading hours on Thursday, reaching $17.75. 613,816 shares of the company were exchanged, compared to its average volume of 678,068. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 14.92 and a beta of 1.22. The stock has a 50-day moving average of $15.08 and a 200 day moving average of $14.36. Opera has a 12 month low of $11.71 and a 12 month high of $21.06.

Opera (NASDAQ:OPRA) last announced its earnings results on Saturday, February 14th. The company reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $176.65 million during the quarter. Opera had a return on equity of 8.00% and a net margin of 17.61%. As a group, research analysts forecast that Opera will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OPRA. The Goldman Sachs Group dropped their price target on shares of Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Opera from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. TD Cowen reaffirmed a “buy” rating on shares of Opera in a research report on Friday, March 13th. Finally, Zacks Research downgraded Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.