Shares of Opera Limited (NASDAQ:OPRA – Get Free Report) shot up 4% during mid-day trading on Monday . The company traded as high as $15.32 and last traded at $15.14. 192,312 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 798,704 shares. The stock had previously closed at $14.56.
Analysts Set New Price Targets
Separately, B. Riley lifted their price objective on Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd.
Check Out Our Latest Report on Opera
Opera Stock Up 3.7 %
Opera (NASDAQ:OPRA – Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $109.73 million during the quarter, compared to analyst estimates of $108.65 million. Opera had a net margin of 40.85% and a return on equity of 19.59%. During the same quarter in the prior year, the business earned $0.15 earnings per share. Sell-side analysts anticipate that Opera Limited will post 0.88 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Opera
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPRA. Roumell Asset Management LLC grew its stake in Opera by 169.2% during the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock valued at $4,986,000 after purchasing an additional 236,870 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Opera by 42.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,533 shares of the company’s stock worth $910,000 after buying an additional 17,242 shares during the period. Richard P Slaughter Associates Inc bought a new position in shares of Opera during the first quarter worth about $3,103,000. Aigen Investment Management LP bought a new stake in Opera in the 4th quarter valued at about $244,000. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Opera by 56.8% during the first quarter. Avantax Advisory Services Inc. now owns 24,597 shares of the company’s stock valued at $389,000 after buying an additional 8,915 shares during the last quarter. 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 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.
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