Opera (NASDAQ:OPRA) Shares Down 3.4%

Opera Limited (NASDAQ:OPRA)’s share price was down 3.4% on Friday . The company traded as low as $14.23 and last traded at $14.31. Approximately 193,113 shares changed hands during trading, a decline of 80% from the average daily volume of 965,341 shares. The stock had previously closed at $14.82.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OPRA shares. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. TD Cowen raised their price objective on Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, March 1st.

Opera Trading Down 5.7 %

The company has a market cap of $1.24 billion, a PE ratio of 7.88 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 4.69. The company has a 50-day moving average of $13.98 and a 200 day moving average of $12.52.

Opera (NASDAQ:OPRA) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $0.18 by $1.20. The company had revenue of $113.00 million during the quarter, compared to analyst estimates of $112.20 million. Opera had a return on equity of 19.90% and a net margin of 42.69%. Analysts predict that Opera Limited will post 0.73 earnings per share for the current year.

Institutional Trading of Opera

Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new stake in shares of Opera during the third quarter valued at approximately $190,327,000. Hudson Bay Capital Management LP bought a new stake in shares of Opera during the third quarter valued at approximately $3,842,000. Walleye Capital LLC bought a new stake in shares of Opera during the third quarter valued at approximately $3,652,000. Monashee Investment Management LLC bought a new stake in shares of Opera during the third quarter valued at approximately $3,381,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Opera during the first quarter valued at approximately $2,725,000. Institutional investors own 10.21% of the company’s stock.

Opera Company Profile

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.