Agora (NASDAQ:API) Stock Price Up 8.3% – Time to Buy?

Agora, Inc. (NASDAQ:API)’s share price traded up 8.3% during trading on Thursday . The stock traded as high as $6.39 and last traded at $6.27. 478,668 shares were traded during trading, a decline of 47% from the average session volume of 906,399 shares. The stock had previously closed at $5.79.

Wall Street Analyst Weigh In

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

Agora Price Performance

The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $3.59. The stock has a market cap of $567.96 million, a PE ratio of -12.57, a PEG ratio of 3.95 and a beta of 0.38.

Agora (NASDAQ:API) last posted its 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 business posted ($0.23) EPS. On average, equities analysts expect that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agora

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted 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 valued at $1,471,000 after buying an additional 2,791 shares in the last quarter. TMT General Partner Ltd acquired a new stake in Agora in the fourth quarter valued at approximately $13,004,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Agora in the third quarter worth $28,000. Dimensional Fund Advisors LP increased its position in shares of Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after purchasing an additional 52,432 shares in the last quarter. Finally, Clearline Capital LP increased its position in shares of Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares in the last quarter. 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.