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

Posted by Defense World Staff on Aug 13th, 2023

Opera Limited (NASDAQ:OPRA – Get Free Report) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,670,000 shares, a decrease of 25.4% from the July 15th total of 2,240,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their price objective on shares of Opera from $14.00 to $22.00 in a research note on Thursday, June 15th.

Check Out Our Latest Stock Report on Opera

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Jump Financial LLC purchased a new stake in shares of Opera in the first quarter valued at approximately $307,000. Raymond James & Associates purchased a new position in Opera during the first quarter valued at approximately $182,000. Penn Capital Management Company LLC increased its holdings in shares of Opera by 51.3% during the 4th quarter. Penn Capital Management Company LLC now owns 218,072 shares of the company’s stock valued at $1,372,000 after purchasing an additional 73,933 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Opera by 187.2% during the 4th quarter. Russell Investments Group Ltd. now owns 81,727 shares of the company’s stock worth $514,000 after acquiring an additional 53,269 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Opera in the second quarter valued at approximately $413,000. Hedge funds and other institutional investors own 4.36% of the company’s stock.

Opera Price Performance

OPRA opened at $15.65 on Friday. Opera has a 12-month low of $3.92 and a 12-month high of $28.58. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 37.26 and a beta of 1.05. The stock has a fifty day simple moving average of $19.48 and a two-hundred day simple moving average of $13.43. The company has a current ratio of 5.16, a quick ratio of 5.16 and a debt-to-equity ratio of 0.01.

Opera Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a $0.40 dividend. This represents a yield of 2.2%. The ex-dividend date was Thursday, June 29th. Opera’s payout ratio is 185.72%.

Opera Company Profile

(Get Free Report)

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.

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