Opera (NASDAQ:OPRA) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Opera (NASDAQ:OPRA) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.83.

Opera Trading Down 1.4%

OPRA stock opened at $14.33 on Monday. The company has a market capitalization of $1.28 billion, a P/E ratio of 15.92 and a beta of 1.25. The business has a 50 day simple moving average of $14.06 and a 200-day simple moving average of $16.47. Opera has a twelve month low of $12.62 and a twelve month high of $22.50.

Opera Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, January 7th will be given a $0.40 dividend. This represents a yield of 549.0%. The ex-dividend date is Wednesday, January 7th. Opera’s dividend payout ratio (DPR) is 86.67%.

Institutional Trading of Opera

Several hedge funds have recently made changes to their positions in OPRA. American Trust Investment Advisors LLC boosted its holdings in shares of Opera by 0.9% in the first quarter. American Trust Investment Advisors LLC now owns 181,560 shares of the company’s stock valued at $2,894,000 after acquiring an additional 1,683 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after purchasing an additional 30,662 shares during the period. Harvey Capital Management Inc. boosted its holdings in Opera by 171.8% in the 3rd quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock valued at $2,065,000 after purchasing an additional 63,225 shares in the last quarter. Inspire Investing LLC purchased a new stake in Opera in the 1st quarter valued at approximately $695,000. Finally, Vident Advisory LLC increased its position in Opera by 53.6% during the 1st quarter. Vident Advisory LLC now owns 24,668 shares of the company’s stock worth $393,000 after purchasing an additional 8,612 shares during the period. Institutional investors and hedge funds 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.