Agora (NASDAQ:API) Shares Gap Down – Here’s What Happened

Agora, Inc. (NASDAQ:API) gapped down prior to trading on Thursday . The stock had previously closed at $6.41, but opened at $6.17. Agora shares last traded at $6.28, with a volume of 230,523 shares traded.

Analyst Ratings Changes

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

Agora Stock Down 7.6 %

The stock has a 50-day moving average of $4.91 and a 200 day moving average of $3.72. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $550.43 million, a PE ratio of -12.18, a P/E/G 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 net margin of 33.74% and a negative return on equity of 7.70%. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Sell-side analysts anticipate that Agora, Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. TMT General Partner Ltd purchased a new stake in shares of Agora during the fourth quarter valued at $13,004,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Agora in the 4th quarter valued at about $12,459,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Agora in the fourth quarter valued at $10,192,000. Harber Asset Management LLC increased its position in shares of Agora by 6.1% during the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after acquiring an additional 123,523 shares during the period. Finally, Hhlr Advisors LTD. purchased a new stake in shares of Agora during the 4th quarter worth $8,730,000. 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.