Opera (NASDAQ:OPRA) Stock Price Up 5.1% – Should You Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s share price rose 5.1% during trading on Tuesday . The stock traded as high as $20.55 and last traded at $20.51. Approximately 442,715 shares traded hands during trading, an increase of 34% from the average session volume of 329,735 shares. The stock had previously closed at $19.51.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OPRA. Weiss Ratings restated a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. Wall Street Zen raised Opera from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Zacks Research downgraded Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Opera Trading Up 5.1%

The company’s fifty day moving average is $18.99 and its 200-day moving average is $16.46. The firm has a market capitalization of $1.84 billion, a P/E ratio of 16.28 and a beta of 1.32.

Opera Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a yield of 407.0%. Opera’s payout ratio is currently 61.90%.

Insider Transactions at Opera

In other news, CEO Lin Song sold 44,400 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the sale, the chief executive officer directly owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 84.36% of the stock is owned by company insiders.

Institutional Trading of Opera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in Opera by 459.5% during the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after acquiring an additional 2,495 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the second quarter valued at about $83,000. GAMMA Investing LLC lifted its stake in shares of Opera by 10.4% in the second quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock valued at $137,000 after buying an additional 652 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Opera in the first quarter valued at about $141,000. Finally, Quent Capital LLC acquired a new stake in Opera during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.