Opera (NASDAQ:OPRA) Shares Up 6.7% – Here’s What Happened

Opera Limited (NASDAQ:OPRA) shares rose 6.7% during trading on Friday . The company traded as high as $19.22 and last traded at $19.19. Approximately 71,505 shares changed hands during trading, a decline of 84% from the average daily volume of 454,539 shares. The stock had previously closed at $17.98.

Analyst Ratings Changes

Separately, Piper Sandler assumed coverage on Opera in a report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera presently has an average rating of “Buy” and an average target price of $24.80.

Opera Stock Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.47 and a beta of 1.04. The stock’s 50-day simple moving average is $19.05 and its 200 day simple moving average is $17.37. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Monday, January 13th. Investors of record on Monday, January 6th were given a dividend of $0.40 per share. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s dividend payout ratio (DPR) is presently 85.71%.

Hedge Funds Weigh In On Opera

Several institutional investors have recently bought and sold shares of the business. Penn Mutual Asset Management acquired a new stake in shares of Opera in the third quarter valued at $952,000. Rockefeller Capital Management L.P. increased its position in Opera by 44.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after acquiring an additional 84,001 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Opera by 62.4% in the third quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock worth $10,354,000 after acquiring an additional 257,469 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Opera during the third quarter worth approximately $888,000. Finally, SG Americas Securities LLC bought a new stake in shares of Opera during the fourth quarter valued at approximately $530,000. Institutional investors own 10.21% of the company’s stock.

About Opera

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.