Agora (NASDAQ:API) Shares Gap Up – Should You Buy?

Agora, Inc. (NASDAQ:API)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.74, but opened at $6.02. Agora shares last traded at $5.68, with a volume of 888,194 shares.

Wall Street Analysts Forecast Growth

Separately, Bank of America upgraded shares of 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 research note on Thursday, January 16th.

Agora Stock Performance

The firm has a market cap of $523.70 million, a price-to-earnings ratio of -11.59, a price-to-earnings-growth ratio of 4.06 and a beta of 0.38. The stock’s 50 day moving average is $4.93 and its 200 day moving average is $3.80. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

Agora (NASDAQ:API) last announced its quarterly earnings results 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 last year, the business posted ($0.23) earnings per share. Analysts anticipate that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Agora

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in 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 purchasing an additional 6,960 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Agora during the 3rd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Agora during the 3rd quarter worth approximately $28,000. Jane Street Group LLC bought a new stake in shares of Agora during the 4th quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Agora during the 4th quarter worth approximately $69,000. Institutional investors own 40.40% of the company’s stock.

About Agora

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.