Tidal Investments LLC Acquires 257,469 Shares of Opera Limited (NASDAQ:OPRA)

Tidal Investments LLC boosted its stake in shares of Opera Limited (NASDAQ:OPRA - Free Report) by 62.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 670,140 shares of the company's stock after purchasing an additional 257,469 shares during the quarter. Tidal Investments LLC owned about 0.76% of Opera worth $10,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OPRA. Portolan Capital Management LLC grew its holdings in Opera by 63.5% in the 3rd quarter. Portolan Capital Management LLC now owns 711,820 shares of the company's stock valued at $10,998,000 after buying an additional 276,356 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Opera by 44.0% during the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company's stock worth $4,249,000 after acquiring an additional 84,001 shares during the period. Harvey Capital Management Inc. acquired a new stake in Opera in the 3rd quarter worth about $2,420,000. Hennion & Walsh Asset Management Inc. raised its stake in Opera by 5.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company's stock worth $1,360,000 after purchasing an additional 4,274 shares in the last quarter. Finally, Penn Mutual Asset Management acquired a new position in shares of Opera during the 3rd quarter worth approximately $952,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Opera Price Performance

Opera stock traded down $0.69 during mid-day trading on Friday, reaching $19.24. The company had a trading volume of 353,333 shares, compared to its average volume of 735,712. The business has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $15.10. The company has a market cap of $1.70 billion, a P/E ratio of 10.16 and a beta of 1.03. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Opera Limited has a fifty-two week low of $10.11 and a fifty-two week high of $20.70.

Wall Street Analysts Forecast Growth

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

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.