Opera (NASDAQ:OPRA) Shares Gap Down – Here’s What Happened

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $19.51, but opened at $18.30. Opera shares last traded at $17.9510, with a volume of 239,189 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Zacks Research cut shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Opera presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Opera Stock Performance

The firm has a 50 day moving average price of $19.28 and a two-hundred day moving average price of $16.89. The firm has a market capitalization of $1.62 billion, a P/E ratio of 14.38 and a beta of 1.32.

Opera Dividend Announcement

The company also recently disclosed 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. This represents a yield of 407.0%. The ex-dividend date was Tuesday, July 7th. Opera’s payout ratio is presently 61.90%.

Insiders Place Their Bets

In related news, CEO Lin Song sold 44,400 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction of $822,288.00. Following the transaction, the chief executive officer directly owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 84.36% of the company’s stock.

Institutional Investors Weigh In On Opera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its position in Opera by 20.7% during the second 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 last quarter. 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 worth $137,000 after buying an additional 652 shares during the last quarter. Harvey Capital Management Inc. boosted its holdings in Opera by 0.9% during the fourth quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock valued at $1,429,000 after acquiring an additional 925 shares during the period. Janney Montgomery Scott LLC grew its holdings in Opera by 305.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock valued at $1,289,000 after buying an additional 68,549 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Opera during the second quarter worth $83,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Company Profile

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.