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

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s stock price hit 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. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

Several research firms have recently commented on OPRA. Zacks Research raised shares of Opera from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research report on Monday, December 29th. Finally, The Goldman Sachs Group lowered their price target on Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Opera has an average rating of “Moderate Buy” and an average target price of $23.50.

Opera Stock Down 7.3%

The stock has a market capitalization of $1.12 billion, a PE ratio of 13.88 and a beta of 1.24. The business’s fifty day moving average is $13.92 and its 200-day moving average is $15.74.

Opera Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, January 7th were paid 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 is 86.67%.

Institutional Trading of Opera

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Foster Dykema Cabot & Partners LLC bought a new stake in Opera during the third quarter valued at $42,000. Huntington National Bank grew its holdings in shares of Opera by 37.8% during the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after purchasing an additional 906 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Opera by 46.7% during the 2nd quarter. GAMMA Investing LLC now owns 4,016 shares of the company’s stock worth $76,000 after purchasing an additional 1,279 shares during the period. State of Tennessee Department of Treasury bought a new stake in shares of Opera in the 2nd quarter worth approximately $83,000. Finally, Quent Capital LLC acquired a new position in Opera during the 4th quarter valued at approximately $212,000. Institutional investors 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.