Opera (NASDAQ:OPRA) Shares Down 6.7%

Opera Limited (NASDAQ:OPRA) was down 6.7% during trading on Thursday . The company traded as low as $12.85 and last traded at $13.52. Approximately 720,367 shares traded hands during trading, a decline of 25% from the average daily volume of 959,538 shares. The stock had previously closed at $14.49.

Analyst Ratings Changes

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

Opera Stock Performance

The business’s fifty day moving average is $14.37 and its two-hundred day moving average is $12.66. The company has a quick ratio of 4.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.18 billion, a PE ratio of 7.10 and a beta of 0.81.

Opera (NASDAQ:OPRA) last posted its earnings results on Thursday, April 25th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Opera had a net margin of 41.00% and a return on equity of 19.81%. The firm had revenue of $101.87 million during the quarter, compared to analyst estimates of $100.60 million. As a group, research analysts anticipate that Opera Limited will post 0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. bought a new stake in shares of Opera during the third quarter worth $31,843,000. Element Capital Management LLC bought a new stake in shares of Opera during the third quarter worth $1,690,000. Walleye Capital LLC bought a new stake in shares of Opera during the third quarter worth $3,652,000. Toroso Investments LLC bought a new stake in shares of Opera during the third quarter worth $3,009,000. Finally, Alpine Global Management LLC bought a new stake in shares of Opera in the third quarter valued at about $1,652,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

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.