Agora (NASDAQ:API) Trading 6.6% Higher – Here’s Why

Agora, Inc. (NASDAQ:API)’s stock price traded up 6.6% during mid-day trading on Wednesday . The company traded as high as $6.65 and last traded at $6.46. 447,920 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 983,264 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

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 report on Thursday, January 16th.

Agora Trading Up 6.8 %

The company’s 50 day moving average price is $4.89 and its two-hundred day moving average price is $3.66. The firm has a market cap of $596.53 million, a PE ratio of -13.20, a P/E/G ratio of 4.34 and a beta of 0.38. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

Agora (NASDAQ:API) last posted its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share 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 previous year, the business earned ($0.23) earnings per share. As a group, sell-side analysts forecast that Agora, Inc. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Agora

A number of large investors have recently bought and sold shares of API. Arrowstreet Capital Limited Partnership bought a new stake in shares of Agora during the fourth quarter worth $3,082,000. EntryPoint Capital LLC purchased a new position in Agora in the 4th quarter worth about $69,000. American Century Companies Inc. lifted its holdings in Agora by 159.5% during the 4th quarter. American Century Companies Inc. now owns 119,168 shares of the company’s stock valued at $496,000 after buying an additional 73,243 shares in the last quarter. Virtu Financial LLC purchased a new stake in Agora in the 4th quarter valued at about $155,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Agora by 3,671.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,795 shares of the company’s stock valued at $1,850,000 after buying an additional 433,001 shares during the period. Hedge funds and other 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.