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

Opera Limited (NASDAQ:OPRA) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decrease of 16.3% from the February 13th total of 1,720,000 shares. Based on an average trading volume of 507,800 shares, the short-interest ratio is currently 2.8 days. Approximately 10.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Piper Sandler started coverage on Opera in a research note on Wednesday, February 5th. They set an “overweight” rating and a $25.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, Opera presently has an average rating of “Buy” and a consensus price target of $24.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Opera by 2,065.1% in the 4th quarter. US Bancorp DE now owns 1,364 shares of the company’s stock valued at $26,000 after buying an additional 1,301 shares during the period. Jones Financial Companies Lllp increased its stake in Opera by 74.4% during the fourth 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. Tower Research Capital LLC TRC lifted its position in shares of Opera by 229.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock worth $42,000 after purchasing an additional 1,548 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of Opera in the third quarter valued at approximately $61,000. Finally, GAMMA Investing LLC grew its holdings in shares of Opera by 66.3% in the fourth quarter. GAMMA Investing LLC now owns 3,430 shares of the company’s stock valued at $65,000 after purchasing an additional 1,368 shares in the last quarter. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Trading Up 1.3 %

Shares of NASDAQ:OPRA traded up $0.23 during mid-day trading on Tuesday, reaching $18.04. 66,138 shares of the company were exchanged, compared to its average volume of 596,550. Opera has a 1 year low of $10.11 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The firm’s 50-day simple moving average is $18.71 and its 200 day simple moving average is $17.71. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 9.15 and a beta of 1.12.

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.