Yep, it's a Opaline Red rump
Like all members of the Neophema and Psephotus family, they should always be kept either in pairs or in a colony, as they are normally flock birds
All Psephotus Grass parrots are flighty, so care should be taken to prevent it escaping or flying frantically
I would purchase a mate for it, and make sure to provide natural browse (if you are in Australia, I don't know your location), natural browse such as bottle brush and melaleuca (paperbark) varietys
The bird you have is a male, so I would pair it up with a female, because males can get aggressive towards each other
Make sure there are no places where, if you purchase a female, she can lay eggs (only if you don't want to breed them of course), because that will stop her from being triggered into breeding mode
If you would like to breed them, buy them a Grass Parakeet style nest box, and when they are breeding remember to feed plenty of calcium like shell grit, lightly baked egg shells and cuttlebone, as well as fruit and veges daily, but not too much fruit, just a small piece of apple, as it will send them hypo
Best of luck, and remember to ask plenty of questions because that's when good results happen with your birds
Thanks
Noah Till