Agora (NASDAQ:API) Stock Price Up 10.1% – Here’s What Happened

Shares of Agora, Inc. (NASDAQ:API) shot up 10.1% during mid-day trading on Tuesday . The company traded as high as $5.58 and last traded at $5.57. 1,165,659 shares changed hands during trading, an increase of 35% from the average session volume of 863,581 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

Separately, Bank of America downgraded Agora from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $2.63 in a research report on Tuesday, August 20th.

Agora Stock Down 0.2 %

The stock has a 50-day simple moving average of $3.79 and a 200-day simple moving average of $2.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15.

Institutional Investors Weigh In On Agora

Institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in Agora during the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agora during the third quarter worth about $28,000. Acadian Asset Management LLC lifted its stake in shares of Agora by 8.4% during the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after purchasing an additional 5,051 shares in the last quarter. Clearline Capital LP lifted its stake in shares of Agora by 41.8% during the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after purchasing an additional 36,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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. 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.