Opera Limited (NASDAQ:OPRA) Sees Large Growth in Short Interest

Opera Limited (NASDAQ:OPRA) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,810,000 shares, a growth 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 presently 3.8 days. Currently, 13.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Opera

A number of large investors have recently modified their holdings of the business. US Bancorp DE boosted its stake in Opera by 2,065.1% in the fourth quarter. US Bancorp DE now owns 1,364 shares of the company’s stock valued at $26,000 after buying an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Opera by 74.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after acquiring an additional 674 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Opera by 229.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock valued at $42,000 after acquiring an additional 1,548 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Opera by 66.3% during the fourth quarter. GAMMA Investing LLC now owns 3,430 shares of the company’s stock worth $65,000 after buying an additional 1,368 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in shares of Opera by 457.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company’s stock worth $74,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

Opera Price Performance

OPRA stock traded down $0.12 during midday trading on Friday, reaching $14.33. The company had a trading volume of 640,732 shares, compared to its average volume of 574,600. The stock has a 50 day moving average price of $17.35 and a 200-day moving average price of $17.88. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 7.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Opera has a 1-year low of $10.11 and a 1-year high of $22.50.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Opera from $26.00 to $22.50 and set a “buy” rating for the company in a research report on Monday, April 14th. Piper Sandler began coverage on Opera in a research report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Opera presently 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.