Opera Limited (NASDAQ:OPRA)’s share price rose 8.7% during mid-day trading on Thursday . The company traded as high as $9.19 and last traded at $9.13. Approximately 338,131 shares changed hands during trading, a decline of 7% from the average daily volume of 363,809 shares. The stock had previously closed at $8.40.
OPRA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Opera from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. BidaskClub lowered Opera from a “sell” rating to a “strong sell” rating in a report on Friday, December 11th. Finally, Lake Street Capital upped their price objective on Opera from $11.00 to $12.00 in a report on Friday, November 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.05.
The business has a 50 day moving average price of $8.77 and a two-hundred day moving average price of $9.11. The company has a market cap of $1.09 billion, a P/E ratio of 22.83 and a beta of 1.33.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in Opera by 157.1% during the 3rd quarter. Morgan Stanley now owns 89,543 shares of the company’s stock valued at $876,000 after purchasing an additional 54,721 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Opera by 142.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 74,314 shares of the company’s stock valued at $727,000 after purchasing an additional 43,658 shares during the last quarter. California Public Employees Retirement System raised its position in Opera by 3.4% during the 3rd quarter. California Public Employees Retirement System now owns 54,938 shares of the company’s stock valued at $537,000 after purchasing an additional 1,800 shares during the last quarter. GSA Capital Partners LLP bought a new position in Opera during the 3rd quarter valued at approximately $421,000. Finally, Squarepoint Ops LLC bought a new position in shares of Opera in the 3rd quarter worth approximately $324,000. 7.76% of the stock is owned by institutional investors and hedge funds.
Opera Company Profile (NASDAQ:OPRA)
Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. The company offers mobile browser products, such as Opera Mini, Opera for Android, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Opera News, a personalized news aggregation app; and Okash, a microfinance app.
Further Reading: Dead Cat Bounce
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