Agora (NASDAQ:API) Shares Gap Up – Still a Buy?

Shares of Agora, Inc. (NASDAQ:API) gapped up prior to trading on Monday . The stock had previously closed at $6.16, but opened at $6.45. Agora shares last traded at $6.19, with a volume of 503,898 shares trading hands.

Wall Street Analysts Forecast Growth

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

Agora Stock Down 8.9 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. The business’s 50 day moving average price is $4.89 and its 200 day moving average price is $3.66. The firm has a market cap of $558.73 million, a PE ratio of -12.37, a PEG ratio of 4.34 and a beta of 0.38.

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

Institutional Trading of Agora

A number of hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora in the 3rd quarter worth $28,000. Clearline Capital LP increased its position in 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 during the last quarter. Harber Asset Management LLC raised its stake in Agora by 6.1% during 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 during the period. Quadrature Capital Ltd purchased a new position in Agora during the third quarter worth about $27,000. Finally, JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 2,791 shares during the last quarter. Institutional investors and hedge funds 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.