Opera Limited (NASDAQ:OPRA) Short Interest Up 22.7% in June

Opera Limited (NASDAQ:OPRA) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,700,000 shares, an increase of 22.7% from the May 31st total of 2,200,000 shares. Based on an average daily volume of 810,600 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Trading of Opera

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. purchased a new stake in Opera during the 3rd quarter valued at $31,843,000. Roumell Asset Management LLC grew its position in Opera by 169.2% in the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock valued at $4,986,000 after acquiring an additional 236,870 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Opera in the 3rd quarter valued at $3,842,000. Walleye Capital LLC bought a new position in Opera in the 3rd quarter valued at $3,652,000. Finally, Toroso Investments LLC bought a new position in Opera in the 3rd quarter valued at $3,009,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Price Performance

Shares of OPRA traded down $1.10 during mid-day trading on Tuesday, hitting $12.73. 1,604,820 shares of the stock were exchanged, compared to its average volume of 912,586. The company has a market cap of $1.13 billion, a PE ratio of 6.77 and a beta of 0.98. Opera has a 52-week low of $10.30 and a 52-week high of $28.58. The firm has a 50-day moving average of $13.87 and a two-hundred day moving average of $13.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $101.87 million for the quarter, compared to analysts’ expectations of $100.60 million. Opera had a return on equity of 19.52% and a net margin of 41.00%. On average, equities analysts predict that Opera will post 0.78 earnings per share for the current year.

Opera Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a yield of 5.6%. Opera’s payout ratio is presently 41.49%.

Analyst Ratings Changes

Separately, TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.