Opera (NASDAQ:OPRA) Shares Down 10.7%


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Opera Limited (NASDAQ:OPRA)’s share price was down 10.7% on Tuesday . The company traded as low as $11.06 and last traded at $11.45. Approximately 502,765 shares traded hands during trading, an increase of 22% from the average daily volume of 413,345 shares. The stock had previously closed at $12.82.

A number of analysts have weighed in on OPRA shares. B. Riley reiterated a “buy” rating on shares of Opera in a report on Thursday, January 28th. Lake Street Capital raised their target price on Opera from $11.00 to $12.00 in a research note on Friday, November 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.05.

The company has a 50 day moving average price of $10.16 and a 200 day moving average price of $9.33. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.84 and a beta of 1.14.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Toroso Investments LLC bought a new stake in Opera during the 4th quarter worth approximately $2,965,000. Renaissance Technologies LLC increased its holdings in Opera by 965.5% during the 4th quarter. Renaissance Technologies LLC now owns 126,800 shares of the company’s stock worth $1,158,000 after purchasing an additional 114,900 shares in the last quarter. Morgan Stanley increased its holdings in Opera by 157.1% during the 3rd quarter. Morgan Stanley now owns 89,543 shares of the company’s stock worth $876,000 after purchasing an additional 54,721 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Opera by 142.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 74,314 shares of the company’s stock worth $727,000 after purchasing an additional 43,658 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Opera by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 54,938 shares of the company’s stock worth $537,000 after purchasing an additional 1,800 shares in the last quarter. 6.06% of the stock is owned by hedge funds and other institutional investors.

About Opera (NASDAQ:OPRA)

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. The company offers mobile browser products, such as Opera Mini, Opera for Android, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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