Opera (NASDAQ:OPRA) Sees Large Volume Increase

Opera Limited (NASDAQ:OPRA) shares saw unusually-high trading volume on Wednesday . Approximately 419,983 shares traded hands during mid-day trading, a decline of 57% from the previous session’s volume of 971,269 shares.The stock last traded at $16.10 and had previously closed at $15.44.

Wall Street Analyst Weigh In

OPRA has been the subject of a number of research analyst reports. TD Cowen upped their price objective on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a report on Monday, March 4th.

Opera Trading Up 5.7 %

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.75 and a beta of 0.81. 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 business has a fifty day moving average price of $13.68 and a 200 day moving average price of $12.49.

Opera (NASDAQ:OPRA) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $1.20. Opera had a net margin of 42.69% and a return on equity of 19.90%. The firm had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $112.20 million. As a group, equities analysts forecast that Opera Limited will post 0.73 earnings per share for the current year.

Institutional Trading of Opera

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Opera by 4.2% during the 2nd quarter. BlackRock Inc. now owns 22,006 shares of the company’s stock worth $437,000 after purchasing an additional 897 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Opera by 4.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,693 shares of the company’s stock worth $301,000 after purchasing an additional 1,050 shares during the period. Tucker Asset Management LLC boosted its position in Opera by 25.1% during the 3rd quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock worth $76,000 after purchasing an additional 1,344 shares during the period. Royal Bank of Canada purchased a new stake in Opera during the 2nd quarter worth $32,000. Finally, JPMorgan Chase & Co. boosted its position in Opera by 66.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,000 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares during the period. 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.