Agora (NASDAQ:API) Stock Price Down 4.8% – Here’s Why

Agora, Inc. (NASDAQ:API)’s share price fell 4.8% during mid-day trading on Friday . The company traded as low as $5.74 and last traded at $5.76. 317,990 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 850,890 shares. The stock had previously closed at $6.05.

Wall Street Analyst Weigh In

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

Agora Trading Down 5.0 %

The business has a fifty day moving average price of $4.78 and a 200 day moving average price of $3.45. The firm has a market capitalization of $530.15 million, a price-to-earnings ratio of -11.73, a P/E/G ratio of 4.09 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 released its quarterly earnings results 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 period in the previous year, the firm posted ($0.23) earnings per share. As a group, equities analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after buying an additional 52,432 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Agora during the 2nd quarter valued at about $777,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Agora in the third quarter worth approximately $28,000. Clearline Capital LP increased its stake in shares of Agora by 4.0% during the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares during the last quarter. Finally, Harber Asset Management LLC boosted its holdings in Agora by 6.1% in the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after purchasing an additional 123,523 shares in the last quarter. 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.