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

Agora, Inc. (NASDAQ:API) dropped 4.8% during mid-day trading on Friday . The stock traded as low as $6.15 and last traded at $6.15. Approximately 1,326,448 shares traded hands during trading, an increase of 31% from the average daily volume of 1,012,889 shares. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

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

Agora Trading Down 7.6 %

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 company’s 50-day moving average is $4.91 and its 200-day moving average is $3.73.

Agora (NASDAQ:API) last issued its quarterly earnings data on Monday, November 25th. The company reported ($0.26) 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 company posted ($0.23) earnings per share. Equities analysts expect that Agora, Inc. will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Agora

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