Agora (NASDAQ:API) Shares Gap Down – What’s Next?

Agora, Inc. (NASDAQ:API) shares gapped down before the market opened on Friday . The stock had previously closed at $6.19, but opened at $5.73. Agora shares last traded at $5.71, with a volume of 314,498 shares.

Analyst Ratings Changes

Separately, Bank of America raised Agora from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $3.10 to $6.00 in a report on Thursday, January 16th.

Agora Trading Down 8.6 %

The company has a market capitalization of $521.86 million, a P/E ratio of -11.55, a price-to-earnings-growth ratio of 4.36 and a beta of 0.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. The firm has a fifty day moving average price of $5.12 and a 200-day moving average price of $3.98.

Hedge Funds Weigh In On Agora

Several institutional investors have recently modified their holdings of API. Quadrature Capital Ltd bought a new position in shares of Agora in the third quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Agora in the third quarter valued at approximately $28,000. Rhumbline Advisers grew its holdings in shares of Agora by 1,988.6% in the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after acquiring an additional 6,960 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Agora in the fourth quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC bought a new position in shares of Agora in the fourth quarter valued at approximately $69,000. 40.40% of the stock is owned by institutional investors.

Agora Company Profile

Agora, Inc operates in real-time engagement technology business in the People's Republic of China, the United States, and internationally. The company offers real-time engagement platform-as-a-services providing developers with application programming interfaces to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.