Opera Limited (NASDAQ:OPRA) Short Interest Update

Opera Limited (NASDAQ:OPRA) 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 short-interest ratio is currently 3.8 days. Approximately 13.1% of the company’s stock are sold short.

Opera Stock Performance

Shares of OPRA traded down $0.12 during mid-day trading on Friday, hitting $14.33. The stock had a trading volume of 640,732 shares, compared to its average volume of 574,600. 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 has a market cap of $1.27 billion, a P/E ratio of 7.27 and a beta of 0.96. Opera has a 52 week low of $10.11 and a 52 week high of $22.50. The business has a fifty day moving average price of $17.35 and a 200-day moving average price of $17.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPRA. Marshall Wace LLP boosted its position in shares of Opera by 99.7% in the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock valued at $27,656,000 after acquiring an additional 729,001 shares during the period. Tidal Investments LLC boosted its holdings in Opera by 75.6% in the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock valued at $22,284,000 after purchasing an additional 506,425 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Opera by 7.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock valued at $17,644,000 after purchasing an additional 61,051 shares in the last quarter. Portolan Capital Management LLC boosted its stake in Opera by 5.1% during the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company’s stock valued at $14,174,000 after buying an additional 36,529 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Opera in the 4th quarter valued at about $10,646,000. 10.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their target price on Opera from $26.00 to $22.50 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler began coverage on shares of Opera in a research report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera has a consensus rating of “Buy” and an average target price of $24.70.

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.