Opera (NASDAQ:OPRA) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $18.13 and traded as high as $18.42. Opera shares last traded at $18.36, with a volume of 769,361 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on OPRA. Weiss Ratings restated a “hold (c+)” rating on shares of Opera in a report on Friday, October 2nd. Wall Street Zen cut shares of Opera from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, B. Riley Financial lifted their target price on shares of Opera from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Opera has an average rating of “Moderate Buy” and an average price target of $24.75.

Opera Stock Up 3.8%

The business has a fifty day moving average price of $18.13 and a two-hundred day moving average price of $16.97.

Hedge Funds Weigh In On Opera

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its holdings in shares of Opera by 14.5% in the 3rd quarter. Signaturefd LLC now owns 6,445 shares of the company’s stock valued at $114,000 after acquiring an additional 814 shares during the last quarter. Vest Financial LLC purchased a new position in shares of Opera during the third quarter worth $253,000. Juncture Wealth Strategies LLC raised its holdings in shares of Opera by 25.5% during the third quarter. Juncture Wealth Strategies LLC now owns 32,476 shares of the company’s stock worth $572,000 after purchasing an additional 6,597 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Opera during the second quarter worth $211,000. Finally, Engineers Gate Manager LP acquired a new position in Opera during the second quarter valued at $228,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera Company Profile

Opera Limited (NASDAQ: OPRA) is a technology company that develops web browsers and related digital services for desktop and mobile users. Its products are designed to provide fast, customizable and feature-rich internet access, with tools such as ad blocking, private browsing, data savings, integrated messaging and personalized content.

The company’s product portfolio includes the Opera browser for computers and smartphones, Opera Mini, a data-efficient mobile browser, and Opera GX, a browser designed for gamers.