Opera (NASDAQ:OPRA) Stock Price Down 6.3%

Opera Limited (NASDAQ:OPRA) dropped 6.3% on Friday . The stock traded as low as $15.36 and last traded at $15.42. Approximately 636,135 shares changed hands during trading, a decline of 36% from the average daily volume of 988,121 shares. The stock had previously closed at $16.45.

Wall Street Analyst Weigh In

OPRA has been the subject of several research analyst reports. TD Cowen raised their price target on Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, March 1st. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a report on Monday, March 4th.

Opera Price Performance

The firm has a market cap of $1.35 billion, a PE ratio of 8.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 2.56. The firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $12.49.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, February 29th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $1.20. The firm had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $112.20 million. Opera had a return on equity of 19.90% and a net margin of 42.69%. Equities analysts predict that Opera Limited will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Opera

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. purchased a new position in shares of Opera in the 3rd quarter worth approximately $190,327,000. Voloridge Investment Management LLC lifted its stake in shares of Opera by 73.7% during the 4th quarter. Voloridge Investment Management LLC now owns 510,286 shares of the company’s stock worth $6,751,000 after acquiring an additional 216,448 shares during the last quarter. Roumell Asset Management LLC lifted its stake in shares of Opera by 169.2% during the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock worth $4,986,000 after acquiring an additional 236,870 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Opera during the 3rd quarter worth approximately $3,842,000. Finally, Walleye Capital LLC bought a new stake in shares of Opera during the 3rd quarter worth approximately $3,652,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.