Opera Limited (NASDAQ:OPRA) Sees Significant Increase in Short Interest

Opera Limited (NASDAQ:OPRA) was the recipient of a large 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. Currently, 13.1% of the company’s shares are sold short. Based on an average trading volume of 482,400 shares, the days-to-cover ratio is presently 3.8 days.

Opera Trading Down 0.8 %

Shares of OPRA stock opened at $14.33 on Monday. The company has a 50-day moving average of $17.35 and a two-hundred day moving average of $17.91. The firm has a market cap of $1.27 billion, a PE ratio of 7.27 and a beta of 0.96. Opera has a 1-year low of $10.11 and a 1-year high of $22.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Institutional Trading of Opera

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in shares of Opera by 99.7% during the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock worth $27,656,000 after buying an additional 729,001 shares during the period. Driehaus Capital Management LLC acquired a new position in Opera in the 4th quarter valued at about $10,646,000. Tidal Investments LLC increased its stake in Opera by 75.6% during the fourth quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after purchasing an additional 506,425 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Opera during the fourth quarter worth about $7,535,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Opera in the fourth quarter valued at approximately $1,985,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Wall Street Analyst Weigh In

OPRA has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their target price on shares of 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 initiated 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.70.

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.