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

Shares of Agora, Inc. (NASDAQ:API) gapped up prior to trading on Tuesday . The stock had previously closed at $5.60, but opened at $5.85. Agora shares last traded at $6.08, with a volume of 531,181 shares.

Analyst Upgrades and Downgrades

Separately, Bank of America raised shares of 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 report on Thursday, January 16th.

Agora Trading Up 6.8 %

The business’s fifty day moving average is $4.82 and its 200-day moving average is $3.50. The firm has a market cap of $551.36 million, a P/E ratio of -12.20, a price-to-earnings-growth ratio of 3.95 and a beta of 0.38. 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 data on Monday, November 25th. The company reported ($0.26) earnings per share (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 posted ($0.23) earnings per share. Analysts predict that Agora, Inc. will post -0.4 EPS for the current year.

Institutional Trading of Agora

Several large investors have recently modified their holdings of the stock. TMT General Partner Ltd acquired a new stake in shares of Agora during the 4th quarter worth approximately $13,004,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Agora during the 4th quarter worth approximately $10,192,000. Harber Asset Management LLC grew its position in shares of Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after buying an additional 123,523 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Agora by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after purchasing an additional 2,791 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Agora in the 2nd quarter worth $777,000. 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.