Opera Limited (NASDAQ:OPRA) Short Interest Update

Opera Limited (NASDAQ:OPRA - Get Free Report) was the recipient of a significant 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. Based on an average daily trading volume, of 482,400 shares, the days-to-cover ratio is currently 3.8 days. Currently, 13.1% of the shares of the company are short sold.

Opera Price Performance

OPRA stock traded up $0.68 during midday trading on Thursday, hitting $15.28. 296,794 shares of the stock were exchanged, compared to its average volume of 571,316. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.76 and a beta of 0.96. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $22.50. The stock's 50-day moving average price is $16.91 and its 200-day moving average price is $17.85.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler began coverage on shares of Opera in a report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $24.70.

Institutional Investors Weigh In On Opera

A number of large investors have recently added to or reduced their stakes in OPRA. Tidal Investments LLC lifted its stake in shares of Opera by 62.4% during the third quarter. Tidal Investments LLC now owns 670,140 shares of the company's stock valued at $10,354,000 after buying an additional 257,469 shares during the period. SG Americas Securities LLC purchased a new position in shares of Opera in the 4th quarter worth $530,000. Charles Schwab Investment Management Inc. boosted its holdings in Opera by 64.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,069 shares of the company's stock valued at $2,293,000 after acquiring an additional 47,652 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Opera during the fourth quarter valued at about $1,634,000. Finally, Blue Trust Inc. raised its holdings in shares of Opera by 56.6% in the 4th quarter. Blue Trust Inc. now owns 6,543 shares of the company's stock worth $124,000 after purchasing an additional 2,366 shares during the period. 10.21% of the stock is owned by institutional investors and hedge funds.

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.