Agora (NASDAQ:API) Trading Up 6.6% – Time to Buy?

Agora, Inc. (NASDAQ:API)’s stock price traded up 6.6% on Wednesday . The stock traded as high as $6.65 and last traded at $6.46. 447,920 shares changed hands during trading, a decline of 54% from the average session volume of 983,264 shares. The stock had previously closed at $6.06.

Analyst Upgrades and Downgrades

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

Agora Trading Up 0.8 %

The stock’s 50-day moving average price is $4.91 and its 200 day moving average price is $3.70. 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 market capitalization of $595.61 million, a PE ratio of -13.18, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38.

Agora (NASDAQ:API) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.26) EPS for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same period in the previous year, the company earned ($0.23) EPS. On average, sell-side analysts expect that Agora, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in Agora during the third quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora in the 3rd quarter valued at $28,000. Rhumbline Advisers increased its holdings in shares of Agora by 1,988.6% in the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after acquiring an additional 6,960 shares during the period. EntryPoint Capital LLC bought a new position in shares of Agora in the 4th quarter worth $69,000. Finally, XTX Topco Ltd purchased a new stake in shares of Agora during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.

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.