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

Opera Limited (NASDAQ:OPRA) was the target of a large drop in short interest during the month of 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 daily volume of 507,800 shares, the short-interest ratio is presently 2.8 days. Currently, 10.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OPRA. Marshall Wace LLP grew its stake in 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 in the last quarter. Tidal Investments LLC boosted its position in shares of Opera by 75.6% during the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after acquiring an additional 506,425 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock valued at $17,644,000 after acquiring an additional 61,051 shares during the last quarter. Portolan Capital Management LLC raised its position 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 purchasing an additional 36,529 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Opera during the fourth quarter worth $10,646,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Analysts Set New Price Targets

Separately, 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.80.

Opera Price Performance

Shares of NASDAQ OPRA traded up $0.62 during midday trading on Wednesday, reaching $18.37. The company’s stock had a trading volume of 336,658 shares, compared to its average volume of 594,007. The business’s 50 day moving average price is $18.69 and its two-hundred day moving average price is $17.73. The company has a market cap of $1.63 billion, a P/E ratio of 9.32 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $22.50.

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.