Short Interest in Opera Limited (NASDAQ:OPRA) Expands By 35.1%

Opera Limited (NASDAQ:OPRA) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, an increase of 35.1% from the March 15th total of 1,340,000 shares. Approximately 13.1% of the shares of the company are short sold. Based on an average daily trading volume, of 482,400 shares, the short-interest ratio is presently 3.8 days.

Opera Trading Down 0.8 %

Shares of NASDAQ:OPRA opened at $14.33 on Friday. Opera has a 12-month low of $10.11 and a 12-month high of $22.50. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.27 billion, a P/E ratio of 7.27 and a beta of 0.96. The firm has a fifty day moving average of $17.35 and a two-hundred day moving average of $17.86.

Institutional Trading of Opera

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its holdings in Opera by 2.8% in the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after purchasing an additional 600 shares in the last quarter. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 674 shares during the period. State Street Corp increased its position in shares of Opera by 5.1% during the third quarter. State Street Corp now owns 17,129 shares of the company’s stock valued at $265,000 after purchasing an additional 832 shares during the period. Signaturefd LLC raised its stake in shares of Opera by 26.5% in the 4th quarter. Signaturefd LLC now owns 5,406 shares of the company’s stock valued at $102,000 after buying an additional 1,134 shares in the last quarter. Finally, US Bancorp DE lifted its stake 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. 10.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target on Opera from $26.00 to $22.50 and set a “buy” rating on the stock in a research report on Monday, April 14th. Piper Sandler started coverage on Opera in a report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $24.70.

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.