Opera (NASDAQ:OPRA) Trading Down 6.1% - Should You Sell?

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) shares were down 6.1% during mid-day trading on Friday . The company traded as low as $18.45 and last traded at $18.50. Approximately 513,449 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 515,230 shares. The stock had previously closed at $19.71.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OPRA shares. Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Lake Street Capital raised their price objective on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating on shares of Opera in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group dropped their price target on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Opera presently has an average rating of "Buy" and a consensus price target of $24.90.

Opera Stock Performance

The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.79 and a beta of 0.98. The company has a fifty day moving average of $18.44 and a two-hundred day moving average of $17.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 2.17.

Opera (NASDAQ:OPRA - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $142.72 million during the quarter, compared to analysts' expectations of $132.48 million. Opera had a return on equity of 9.21% and a net margin of 16.15%. During the same period last year, the firm posted $0.34 EPS. As a group, equities research analysts predict that Opera Limited Sponsored ADR will post 0.81 earnings per share for the current fiscal year.

Opera Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 8th. This represents a yield of 4.1%. Opera's dividend payout ratio (DPR) is presently 82.98%.

Hedge Funds Weigh In On Opera

A number of hedge funds have recently added to or reduced their stakes in OPRA. US Bancorp DE increased its stake in Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company's stock worth $26,000 after acquiring an additional 1,301 shares during the period. Jones Financial Companies Lllp increased its stake in Opera by 74.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after acquiring an additional 674 shares during the period. Tower Research Capital LLC TRC increased its stake in Opera by 229.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company's stock worth $42,000 after acquiring an additional 1,548 shares during the period. Calton & Associates Inc. bought a new position in Opera during the 1st quarter worth $51,000. Finally, Point72 Hong Kong Ltd increased its stake in Opera by 457.1% during the 4th quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company's stock worth $74,000 after acquiring an additional 3,200 shares during the period. 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.