Alpha DNA Investment Management LLC Takes $404,000 Position in Opera Limited (NASDAQ:OPRA)

Alpha DNA Investment Management LLC acquired a new position in shares of Opera Limited (NASDAQ:OPRA - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,135 shares of the company's stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OPRA. Harvey Capital Management Inc. bought a new stake in shares of Opera in the 3rd quarter worth approximately $2,420,000. Inspire Investing LLC acquired a new position in shares of Opera in the 2nd quarter valued at $794,000. Caxton Associates LP boosted its holdings in Opera by 103.5% during the first quarter. Caxton Associates LP now owns 72,629 shares of the company's stock worth $1,148,000 after buying an additional 36,931 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Opera by 45.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 83,734 shares of the company's stock worth $1,176,000 after acquiring an additional 26,201 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Opera in the 1st quarter valued at $267,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Opera Stock Down 0.6 %

Shares of NASDAQ OPRA traded down $0.13 during midday trading on Monday, hitting $20.06. 574,924 shares of the stock traded hands, compared to its average volume of 745,991. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Opera Limited has a one year low of $10.11 and a one year high of $20.70. The business has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $14.54. The company has a market cap of $1.77 billion, a PE ratio of 10.25 and a beta of 1.02.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $108.65 million. Opera had a return on equity of 19.22% and a net margin of 39.22%. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts predict that Opera Limited will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OPRA. The Goldman Sachs Group boosted their price target on Opera from $19.50 to $23.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. B. Riley restated a "buy" rating and set a $25.00 price objective (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Lake Street Capital raised their price target on Opera from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their target price on shares of Opera from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Opera currently has a consensus rating of "Buy" and an average target price of $24.75.

Opera 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.