Opera (NASDAQ:OPRA) Sets New 12-Month Low – Here’s Why

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $12.44 and last traded at $12.5450, with a volume of 774478 shares trading hands. The stock had previously closed at $13.48.

Analyst Ratings Changes

A number of research firms recently weighed in on OPRA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Opera in a report on Monday, December 29th. The Goldman Sachs Group reduced their price objective on Opera from $24.50 to $21.50 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, Zacks Research raised Opera from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Opera presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Opera Stock Down 7.3%

The stock has a market capitalization of $1.12 billion, a P/E ratio of 13.88 and a beta of 1.24. The firm’s 50-day simple moving average is $13.92 and its 200 day simple moving average is $15.74.

Opera Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, January 7th were given a $0.40 dividend. The ex-dividend date was Wednesday, January 7th. This represents a dividend yield of 554.0%. Opera’s dividend payout ratio (DPR) is 86.67%.

Institutional Trading of Opera

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Opera by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after purchasing an additional 30,662 shares during the last quarter. Harvey Capital Management Inc. boosted its stake in Opera by 171.8% during the 3rd quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock valued at $2,065,000 after purchasing an additional 63,225 shares during the period. Caxton Associates LLP bought a new position in Opera during the first quarter worth $270,000. Quent Capital LLC acquired a new position in shares of Opera during the fourth quarter valued at about $212,000. Finally, IFP Advisors Inc lifted its stake in shares of Opera by 127.0% in the third quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after buying an additional 6,350 shares during the period. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.