Agora (NASDAQ:API) Stock Price Up 9.2% – Should You Buy?

Agora, Inc. (NASDAQ:API) shot up 9.2% on Tuesday . The company traded as high as $5.68 and last traded at $5.60. 167,224 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,095,855 shares. The stock had previously closed at $5.13.

Analysts Set New Price Targets

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

Agora Stock Up 5.7 %

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 firm has a fifty day moving average of $5.21 and a 200-day moving average of $4.10. The firm has a market cap of $499.73 million, a P/E ratio of -11.06, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37.

Institutional Trading of Agora

A number of large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in shares of Agora during the 3rd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Agora in the third quarter valued at approximately $28,000. Rhumbline Advisers lifted its position in shares of Agora by 1,988.6% in the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after buying an additional 6,960 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Agora in the fourth quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Agora during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds 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.