Opera (NASDAQ:OPRA) Shares Down 6.7%

Opera Limited (NASDAQ:OPRA) shares fell 6.7% during mid-day trading on Thursday . The stock traded as low as $12.85 and last traded at $13.52. 720,367 shares were traded during trading, a decline of 25% from the average session volume of 959,538 shares. The stock had previously closed at $14.49.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OPRA. TD Cowen increased their target price on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. TheStreet raised Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th.

Opera Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 2.56. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 7.10 and a beta of 0.81. The firm has a 50-day moving average price of $14.37 and a two-hundred day moving average price of $12.66.

Opera (NASDAQ:OPRA) last issued its earnings results on Thursday, April 25th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. Opera had a return on equity of 19.81% and a net margin of 41.00%. The business had revenue of $101.87 million for the quarter, compared to analyst estimates of $100.60 million. On average, sell-side analysts forecast that Opera Limited will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRA. Citigroup Inc. purchased a new position in Opera during the 3rd quarter worth approximately $190,327,000. Hudson Bay Capital Management LP purchased a new position in shares of Opera in the 3rd quarter valued at approximately $3,842,000. Walleye Capital LLC purchased a new position in shares of Opera in the 3rd quarter valued at approximately $3,652,000. Monashee Investment Management LLC purchased a new position in shares of Opera in the 3rd quarter valued at approximately $3,381,000. Finally, Toroso Investments LLC purchased a new position in shares of Opera in the 3rd quarter valued at approximately $3,009,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

About Opera

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.