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

Opera Limited (NASDAQ:OPRA) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 1,730,000 shares, a decrease 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.

Opera Price Performance

Shares of NASDAQ:OPRA opened at $18.57 on Wednesday. Opera has a 12 month low of $10.11 and a 12 month high of $19.69. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.64 billion, a P/E ratio of 9.88 and a beta of 1.04. The company has a 50 day moving average of $15.03 and a 200 day moving average of $13.96.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data 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. Opera had a return on equity of 19.59% and a net margin of 40.85%. The company had revenue of $109.73 million for the quarter, compared to the consensus estimate of $108.65 million. During the same quarter last year, the business posted $0.15 earnings per share. As a group, sell-side analysts forecast that Opera will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OPRA. Harvey Capital Management Inc. purchased a new position in shares of Opera during the 3rd quarter valued at about $2,420,000. Inspire Investing LLC purchased a new stake in shares of Opera in the 2nd quarter valued at $794,000. Caxton Associates LP grew its holdings in shares of Opera by 103.5% during the 1st quarter. Caxton Associates LP now owns 72,629 shares of the company’s stock valued at $1,148,000 after purchasing an additional 36,931 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Opera in the first quarter worth about $564,000. Finally, Janney Montgomery Scott LLC purchased a new position in Opera in the 1st quarter worth approximately $475,000. Institutional investors 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.