Opera (NASDAQ:OPRA) Trading Down 7.3%

Shares of Opera Ltd (NASDAQ:OPRA) traded down 7.3% during trading on Monday . The company traded as low as $9.81 and last traded at $10.20, 600,500 shares were traded during trading. An increase of 220% from the average session volume of 187,718 shares. The stock had previously closed at $11.00.

A number of analysts recently commented on the stock. B. Riley reissued a “buy” rating and set a $20.00 price objective on shares of Opera in a report on Friday. Lake Street Capital assumed coverage on shares of Opera in a report on Wednesday, October 2nd. They set a “buy” rating and a $19.00 price objective on the stock. Citigroup set a $14.00 price objective on shares of Opera and gave the stock a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded shares of Opera from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, ValuEngine downgraded shares of Opera from a “sell” rating to a “strong sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.00.

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.97 and a quick ratio of 4.97. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 25.50 and a beta of 1.89. The business’s 50-day simple moving average is $10.04 and its 200-day simple moving average is $10.68.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $93.68 million during the quarter, compared to analysts’ expectations of $80.13 million. Opera had a net margin of 18.82% and a return on equity of 6.74%. As a group, sell-side analysts forecast that Opera Ltd will post 0.26 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in OPRA. Trustcore Financial Services LLC acquired a new position in Opera during the third quarter worth about $115,000. A.R.T. Advisors LLC acquired a new position in Opera during the second quarter worth about $118,000. Cim LLC acquired a new position in Opera during the second quarter worth about $137,000. Henry James International Management Inc. acquired a new position in Opera during the third quarter worth about $181,000. Finally, Nomura Holdings Inc. acquired a new position in Opera during the second quarter worth about $496,000. Institutional investors own 10.18% 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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