Opera (NASDAQ:OPRA) Shares Gap Up - Here's What Happened

Opera Limited (NASDAQ:OPRA - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $18.00, but opened at $18.67. Opera shares last traded at $18.96, with a volume of 184,472 shares changing hands.

Wall Street Analyst Weigh In

OPRA has been the topic of several research analyst reports. B. Riley restated a "buy" rating and set a $25.00 price objective (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Opera from $19.50 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler started coverage on shares of Opera in a research report on Wednesday. They set an "overweight" rating and a $25.00 price objective for the company. Lake Street Capital raised their target price on shares of Opera from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their target price on Opera from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $24.80.

Opera Stock Performance

The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company's 50-day moving average is $18.77 and its two-hundred day moving average is $16.51. The stock has a market capitalization of $1.81 billion, a P/E ratio of 10.40 and a beta of 1.04.

Opera Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, January 6th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, January 6th. This represents a dividend yield of 3.9%. Opera's dividend payout ratio (DPR) is presently 39.59%.

Hedge Funds Weigh In On Opera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position 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 lifted its holdings in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after purchasing an additional 674 shares during the period. GAMMA Investing LLC grew its position in Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company's stock valued at $32,000 after buying an additional 1,186 shares in the last quarter. Larson Financial Group LLC acquired a new position in Opera during the 3rd quarter valued at about $61,000. Finally, Blue Trust Inc. raised its position in shares of Opera by 334.7% during the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company's stock worth $65,000 after buying an additional 3,216 shares in the last quarter. 10.21% of the stock is owned by institutional investors.

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.