Opera Limited (NASDAQ:OPRA) Short Interest Down 16.3% in February

Opera Limited (NASDAQ:OPRA) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a drop of 16.3% from the February 13th total of 1,720,000 shares. Based on an average daily volume of 507,800 shares, the days-to-cover ratio is currently 2.8 days. Currently, 10.4% of the shares of the stock are short sold.

Institutional Trading of Opera

Large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its position in Opera by 2.8% during the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock valued at $415,000 after purchasing an additional 600 shares during the last quarter. Jones Financial Companies Lllp grew its position in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock worth $30,000 after acquiring an additional 674 shares in the last quarter. State Street Corp increased its stake in Opera by 5.1% during the third quarter. State Street Corp now owns 17,129 shares of the company’s stock worth $265,000 after acquiring an additional 832 shares during the last quarter. Signaturefd LLC raised its position in Opera by 26.5% during the fourth quarter. Signaturefd LLC now owns 5,406 shares of the company’s stock valued at $102,000 after purchasing an additional 1,134 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Opera by 14.4% in the 3rd quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock valued at $144,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors own 10.21% of the company’s stock.

Opera Price Performance

Shares of OPRA stock traded down $0.47 during trading hours on Thursday, hitting $17.90. The stock had a trading volume of 174,546 shares, compared to its average volume of 590,831. 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 stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.15 and a beta of 1.12. Opera has a one year low of $10.11 and a one year high of $22.50. The stock’s 50-day moving average price is $18.71 and its two-hundred day moving average price is $17.73.

Analyst Ratings Changes

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

About Opera

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.