Agora (NASDAQ:API) Sets New 1-Year High – What’s Next?

Agora, Inc. (NASDAQ:API) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $6.99 and last traded at $6.51, with a volume of 3572715 shares. The stock had previously closed at $5.91.

Analysts Set New Price Targets

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

Agora Stock Up 10.2 %

The stock’s 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $3.93. The firm has a market cap of $600.22 million, a P/E ratio of -13.29, a P/E/G 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.

Agora (NASDAQ:API) last announced its earnings results on Monday, November 25th. The company reported ($0.26) earnings per share 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 company posted ($0.23) EPS. As a group, research analysts forecast 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 and hedge funds have recently made changes to their positions in the business. TMT General Partner Ltd bought a new position in shares of Agora during the fourth quarter valued at approximately $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Agora during the fourth quarter valued at approximately $12,459,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of Agora during the fourth quarter valued at approximately $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 valued at $5,160,000 after acquiring an additional 123,523 shares in the last quarter. Finally, Hhlr Advisors LTD. bought a new stake in shares of Agora during the fourth quarter valued at approximately $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.