Agora (NASDAQ:API) Hits New 52-Week High – Time to Buy?

Agora, Inc. (NASDAQ:API)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $6.73 and last traded at $6.65, with a volume of 1889308 shares traded. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

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

Agora Stock Up 5.8 %

The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $591.00 million, a P/E ratio of -13.08, a PEG ratio of 4.34 and a beta of 0.38. The company has a fifty day moving average price of $4.90 and a 200-day moving average price of $3.68.

Agora (NASDAQ:API) last issued its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share (EPS) 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 earned ($0.23) EPS. As a group, research analysts forecast that Agora, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Agora

Several institutional investors have recently bought and sold shares of the business. TMT General Partner Ltd purchased a new stake in shares of Agora during the 4th quarter valued at about $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Agora during the fourth quarter worth approximately $12,459,000. Yong Rong HK Asset Management Ltd purchased a new stake in Agora during the fourth quarter valued at approximately $10,192,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Agora in the 4th quarter valued at approximately $3,082,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Agora by 3,671.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,795 shares of the company’s stock worth $1,850,000 after purchasing an additional 433,001 shares during the period. 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.