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

Opera Limited (NASDAQ:OPRA) saw a large drop in short interest in 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 trading volume of 507,800 shares, the days-to-cover ratio is currently 2.8 days. Approximately 10.4% of the company’s stock are short sold.

Opera Stock Up 3.5 %

OPRA stock traded up $0.62 during mid-day trading on Wednesday, reaching $18.37. The company had a trading volume of 336,658 shares, compared to its average volume of 594,007. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.32 and a beta of 1.12. Opera has a 52 week low of $10.11 and a 52 week high of $22.50. The stock has a 50 day simple moving average of $18.69 and a two-hundred day simple moving average of $17.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Analyst Ratings Changes

Separately, Piper Sandler initiated coverage on shares of Opera in a research report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.80.

Hedge Funds Weigh In On Opera

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

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.