Opera (NASDAQ:OPRA) Shares Gap Down - Should You Sell?

Key Points

• Opera shares fell sharply, opening at $18.30 versus the prior close of $19.51 and later trading near $17.95.
• Analyst sentiment remains mixed: ratings include two Buys and two Holds, producing a “Moderate Buy” consensus with an average price target of $21.50.
• The company paid a $0.40 dividend, while CEO Lin Song sold 44,400 shares; insiders still own a substantial 84.36% of Opera’s stock.

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) shares gapped down before the market opened 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OPRA. Zacks Research downgraded Opera from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of Opera in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Two investment 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, the stock has an average rating of "Moderate Buy" and an average target price of $21.50.

Opera Stock Performance

The firm has a market cap of $1.62 billion, a PE ratio of 14.38 and a beta of 1.32. The firm's 50-day moving average price is $19.28 and its two-hundred day moving average price is $16.89.

Opera Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th were issued a $0.40 dividend. This represents a dividend yield of 407.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Opera's payout ratio is presently 61.90%.

Insider Buying and Selling

In related news, CEO Lin Song sold 44,400 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $18.52, for a total transaction of $822,288.00. Following the completion of the sale, the chief executive officer owned 120,846 shares in the company, valued at $2,238,067.92. This represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 84.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Opera

Institutional investors have recently added to or reduced their stakes in the business. North Star Asset Management Inc. purchased a new stake in Opera during the second quarter worth about $238,000. Handelsbanken Fonder AB grew its holdings in Opera by 20.7% in 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 period. GAMMA Investing LLC grew its stake in shares of Opera by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company's stock valued at $137,000 after buying an additional 652 shares during the period. Parallel Advisors LLC increased its stake in Opera by 459.5% during the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company's stock worth $43,000 after acquiring an additional 2,495 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its position in Opera by 35.3% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company's stock valued at $416,000 after buying an additional 7,607 shares in the last quarter. 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.

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