Opera (NASDAQ:OPRA) Reaches New 1-Year High at $17.38

Posted by on Jun 3rd, 2023

Opera Limited (NASDAQ:OPRA – Get Rating)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $17.38 and last traded at $16.86, with a volume of 444779 shares traded. The stock had previously closed at $15.74.

Analysts Set New Price Targets

Separately, Lake Street Capital lifted their price target on Opera from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th.

Opera Stock Performance

The stock has a market capitalization of $1.97 billion, a P/E ratio of 40.81 and a beta of 1.00. The company has a 50 day simple moving average of $12.15 and a 200-day simple moving average of $8.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.16 and a quick ratio of 5.16.

Opera (NASDAQ:OPRA – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $87.05 million for the quarter, compared to analyst estimates of $85.00 million. Opera had a return on equity of 4.59% and a net margin of 11.53%.

Institutional Trading of Opera

A number of hedge funds and other institutional investors have recently made changes to their positions in OPRA. Arrowstreet Capital Limited Partnership bought a new stake in shares of Opera during the 1st quarter valued at $2,725,000. G2 Investment Partners Management LLC bought a new stake in shares of Opera during the 1st quarter valued at $1,816,000. Acadian Asset Management LLC raised its stake in shares of Opera by 34,103.8% during the 1st quarter. Acadian Asset Management LLC now owns 136,815 shares of the company’s stock valued at $1,382,000 after purchasing an additional 136,415 shares during the period. Captrust Financial Advisors bought a new stake in shares of Opera during the 1st quarter valued at $722,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Opera during the 1st quarter valued at $604,000. 5.24% of the stock is currently owned by institutional investors.

About Opera

(Get Rating)

Opera Ltd. engages in the provision of web browsers through its subsidiaries. Its products include Opera browser for Windows, iOS, and Linux computers, as well as the mobile apps Opera for Android, Opera Mini, Opera Touch, and Opera News. The company operates through the Browser and News; and Other segments.

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