Agora (NASDAQ:API) Trading Up 6.3% – Here’s What Happened

Agora, Inc. (NASDAQ:API) shares rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $5.60 and last traded at $5.56. Approximately 381,752 shares changed hands during trading, a decline of 49% from the average daily volume of 743,730 shares. The stock had previously closed at $5.23.

Wall Street Analyst Weigh In

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

Agora Price Performance

The business’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $3.41. The stock has a market capitalization of $534.76 million, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 3.32 and a beta of 0.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15.

Agora (NASDAQ:API) last issued its quarterly earnings results 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 quarter in the prior year, the firm earned ($0.23) earnings per share. Research analysts anticipate that Agora, Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Agora

A number of institutional investors have recently bought and sold shares of the stock. TMT General Partner Ltd acquired a new stake in Agora during the fourth quarter valued at $13,004,000. Harber Asset Management LLC grew its stake in shares of Agora by 6.1% in the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after buying an additional 123,523 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after buying an additional 2,791 shares during the last quarter. Bank of Montreal Can bought a new position in Agora during the second quarter valued at approximately $777,000. Finally, Dimensional Fund Advisors LP grew its position in Agora by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after acquiring an additional 52,432 shares in the last quarter. Hedge funds and other 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.