Opera (NASDAQ:OPRA) Shares Climb 9% – Here’s Why

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s stock price was up 9% during mid-day trading on Tuesday. The company traded as high as $15.89 and last traded at $16.1490. Approximately 151,096 shares were traded during mid-day trading, a decline of 69% from the average session volume of 486,733 shares. The stock had previously closed at $14.81.

Analysts Set New Price Targets

Several equities research analysts recently commented on OPRA shares. B. Riley Financial raised their target price on Opera from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Wall Street Zen cut Opera from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a research note on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Opera presently has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Opera Trading Up 7.1%

The stock has a market cap of $1.41 billion, a P/E ratio of 11.42 and a beta of 1.28. The business has a 50-day simple moving average of $17.96 and a 200 day simple moving average of $17.03.

Institutional Investors Weigh In On Opera

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC increased its position in shares of Opera by 16.4% during the second quarter. Squarepoint Ops LLC now owns 190,502 shares of the company’s stock worth $3,778,000 after buying an additional 26,787 shares during the period. Kestra Advisory Services LLC raised its stake in Opera by 3.6% during the third quarter. Kestra Advisory Services LLC now owns 127,307 shares of the company’s stock worth $2,243,000 after buying an additional 4,373 shares during the last quarter. Juncture Wealth Strategies LLC lifted its holdings in Opera by 25.5% in the third quarter. Juncture Wealth Strategies LLC now owns 32,476 shares of the company’s stock valued at $572,000 after buying an additional 6,597 shares during the period. Handelsbanken Fonder AB lifted its holdings in Opera by 20.7% in the second quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock valued at $601,000 after buying an additional 5,200 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its position in Opera by 35.3% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock valued at $416,000 after acquiring an additional 7,607 shares during the last quarter. 10.21% of the stock is owned by institutional investors.

Opera Company Profile

Opera Limited (NASDAQ: OPRA) is a technology company that develops web browsers and related digital services for desktop and mobile users. Its products are designed to provide fast, customizable and feature-rich internet access, with tools such as ad blocking, private browsing, data savings, integrated messaging and personalized content.

The company’s product portfolio includes the Opera browser for computers and smartphones, Opera Mini, a data-efficient mobile browser, and Opera GX, a browser designed for gamers.