Opera (NASDAQ:OPRA) Shares Gap Down to $7.33

Opera Ltd (NASDAQ:OPRA)’s share price gapped down before the market opened on Friday . The stock had previously closed at $7.16, but opened at $7.33. Opera shares last traded at $7.20, with a volume of 68,310 shares changing hands.

OPRA has been the topic of several recent research reports. ValuEngine upgraded Opera from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley reiterated a “buy” rating and set a $20.00 price objective on shares of Opera in a research report on Friday, November 15th. Zacks Investment Research upgraded Opera from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a research report on Thursday. Finally, Lake Street Capital initiated coverage on Opera in a research report on Wednesday, October 2nd. They set a “buy” rating and a $19.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.69.

The firm has a 50-day moving average of $9.27 and a 200-day moving average of $10.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.25 and a current ratio of 4.28. The firm has a market capitalization of $804.28 million, a P/E ratio of 16.41 and a beta of 1.76.

Opera (NASDAQ:OPRA) last posted its quarterly earnings results on Thursday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. Opera had a return on equity of 6.53% and a net margin of 18.82%. The business had revenue of $93.68 million for the quarter, compared to analyst estimates of $80.13 million. Equities analysts anticipate that Opera Ltd will post 0.46 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trustcore Financial Services LLC bought a new position in Opera during the 3rd quarter worth approximately $115,000. A.R.T. Advisors LLC bought a new position in Opera during the 2nd quarter worth approximately $118,000. Cim LLC grew its position in Opera by 25.7% during the 3rd quarter. Cim LLC now owns 16,485 shares of the company’s stock worth $166,000 after acquiring an additional 3,370 shares during the last quarter. Henry James International Management Inc. bought a new position in Opera during the 3rd quarter worth approximately $181,000. Finally, Nomura Holdings Inc. bought a new position in Opera during the 2nd quarter worth approximately $496,000. Institutional investors and hedge funds own 10.82% of the company’s stock.

About Opera (NASDAQ:OPRA)

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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