Opera (NASDAQ:OPRA) Shares Up 4%

Opera Limited (NASDAQ:OPRA) shares were up 4% during trading on Monday . The company traded as high as $15.32 and last traded at $15.14. Approximately 192,312 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 798,704 shares. The stock had previously closed at $14.56.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their price target on shares of Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd.

Opera Stock Up 3.7 %

The business has a 50-day moving average of $13.32 and a 200 day moving average of $13.99. The company has a market capitalization of $1.34 billion, a PE ratio of 8.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51.

Opera (NASDAQ:OPRA) last issued its earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Opera had a net margin of 40.85% and a return on equity of 19.59%. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. During the same period last year, the company posted $0.15 earnings per share. Equities research analysts predict that Opera Limited will post 0.88 earnings per share for the current year.

Institutional Trading of Opera

A number of institutional investors have recently modified their holdings of OPRA. EntryPoint Capital LLC raised its holdings in shares of Opera by 248.8% during the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock worth $97,000 after purchasing an additional 4,364 shares during the last quarter. National Bank of Canada FI increased its position in shares of Opera by 1,474.9% during the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after purchasing an additional 7,640 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Opera in the second quarter valued at about $112,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Opera during the 2nd quarter worth approximately $147,000. Finally, Annex Advisory Services LLC acquired a new stake in shares of Opera in the 1st quarter worth $158,000. 10.21% of the stock is currently owned by institutional investors.

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.