Opera (NASDAQ:OPRA) Stock Price Up 9% – Still a Buy?

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

Wall Street Analyst Weigh In

OPRA has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Opera in a report on Friday, October 2nd. B. Riley Financial upped their target price on shares of Opera from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen cut shares of Opera from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Opera Stock Down 5.5%

The stock has a 50 day simple moving average of $17.81 and a 200 day simple moving average of $17.05. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.51 and a beta of 1.38.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC grew its position in shares of Opera by 16.8% during the third quarter. Penn Capital Management Company LLC now owns 894,543 shares of the company’s stock worth $15,778,000 after acquiring an additional 128,776 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Opera by 16.4% in the 2nd quarter. Squarepoint Ops LLC now owns 190,502 shares of the company’s stock worth $3,778,000 after acquiring an additional 26,787 shares during the period. Kestra Advisory Services LLC lifted its position in Opera by 3.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 127,307 shares of the company’s stock valued at $2,243,000 after purchasing an additional 4,373 shares during the last quarter. Point Nemo Capital LLC lifted its position in Opera by 4.7% in the 3rd quarter. Point Nemo Capital LLC now owns 73,403 shares of the company’s stock valued at $1,293,000 after purchasing an additional 3,310 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Opera by 20.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock valued at $601,000 after purchasing an additional 5,200 shares during the period. 10.21% of the stock is currently 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.