Opera (NASDAQ:OPRA) Shares Gap Up – Time to Buy?

Opera Limited (NASDAQ:OPRA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.53, but opened at $16.84. Opera shares last traded at $16.17, with a volume of 539,702 shares trading hands.

Wall Street Analysts Forecast Growth

OPRA has been the topic of several analyst reports. Piper Sandler started coverage on Opera in a research report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 target price on the stock. 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 report on Monday, April 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Opera has a consensus rating of “Buy” and a consensus target price of $24.70.

Opera Stock Performance

The company’s 50-day simple moving average is $16.65 and its 200-day simple moving average is $17.91. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 8.25 and a beta of 0.96. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Institutional Trading of Opera

Several institutional investors and hedge funds have recently bought and sold shares of OPRA. US Bancorp DE raised its holdings in shares of Opera by 2,065.1% during the fourth quarter. US Bancorp DE now owns 1,364 shares of the company’s stock valued at $26,000 after acquiring an additional 1,301 shares during the period. Jones Financial Companies Lllp raised its stake in Opera by 74.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after purchasing an additional 674 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Opera by 229.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock valued at $42,000 after purchasing an additional 1,548 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Opera by 66.3% in the fourth quarter. GAMMA Investing LLC now owns 3,430 shares of the company’s stock worth $65,000 after buying an additional 1,368 shares during the period. Finally, Point72 Hong Kong Ltd boosted its position in Opera by 457.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company’s stock worth $74,000 after acquiring an additional 3,200 shares during the period. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.