Inspire Investing LLC Takes $794,000 Position in Opera Limited (NASDAQ:OPRA)

Inspire Investing LLC acquired a new position in shares of Opera Limited (NASDAQ:OPRA) in the second quarter, Holdings Channel reports. The firm acquired 56,541 shares of the company’s stock, valued at approximately $794,000.

A number of other institutional investors also recently added to or reduced their stakes in OPRA. EntryPoint Capital LLC lifted its position in shares of Opera by 248.8% during the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after buying an additional 4,364 shares during the last quarter. National Bank of Canada FI lifted its position in Opera by 1,474.9% during the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after acquiring an additional 7,640 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Opera in the second quarter valued at approximately $147,000. Annex Advisory Services LLC purchased a new position in Opera in the first quarter worth $158,000. Finally, Caprock Group LLC purchased a new stake in shares of Opera during the 2nd quarter valued at $205,000. Institutional investors own 10.21% of the company’s stock.

Opera Trading Down 0.7 %

Shares of Opera stock opened at $14.56 on Friday. Opera Limited has a 12-month low of $10.11 and a 12-month high of $17.31. The firm’s 50 day simple moving average is $13.32 and its two-hundred day simple moving average is $13.98. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.74 and a beta of 1.03.

Opera (NASDAQ:OPRA) last issued its quarterly 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. The company had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $108.65 million. Opera had a return on equity of 19.59% and a net margin of 40.85%. During the same quarter in the previous year, the firm posted $0.15 EPS. Analysts predict that Opera Limited will post 0.88 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.