Opera Limited (NASDAQ:OPRA) Sees Significant Drop in Short Interest

Opera Limited (NASDAQ:OPRA) was the target of a large 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 short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Opera by 135.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after acquiring an additional 1,186 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 3,216 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Opera by 248.8% in the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after buying an additional 4,364 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Opera in the second quarter valued at $112,000. Finally, National Bank of Canada FI lifted its holdings in Opera by 1,474.9% during the 2nd quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after buying an additional 7,640 shares during the last quarter. 10.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley boosted their target price on Opera from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, August 23rd.

Opera Stock Up 2.2 %

Shares of NASDAQ:OPRA opened at $16.48 on Monday. The firm’s 50-day moving average is $14.84 and its two-hundred day moving average is $13.93. 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 has a 1 year low of $10.11 and a 1 year high of $17.31. The firm has a market capitalization of $1.46 billion, a PE ratio of 8.77 and a beta of 1.04.

Opera (NASDAQ:OPRA) last released its earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. Opera had a net margin of 40.85% and a return on equity of 19.59%. During the same period in the prior year, the business earned $0.15 EPS. Analysts predict that Opera will post 0.88 EPS for the current 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.