Agora (NASDAQ:API) Trading 8.1% Higher – Here’s Why

Agora, Inc. (NASDAQ:API) shares traded up 8.1% on Friday . The company traded as high as $6.30 and last traded at $6.13. 518,173 shares traded hands during trading, a decline of 49% from the average session volume of 1,025,972 shares. The stock had previously closed at $5.67.

Wall Street Analyst Weigh In

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

Agora Price Performance

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 firm has a market capitalization of $567.95 million, a PE ratio of -12.57, a PEG ratio of 4.01 and a beta of 0.38. The firm’s fifty day simple moving average is $4.97 and its 200-day simple moving average is $3.85.

Agora (NASDAQ:API) last issued its earnings results 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 quarter in the previous year, the firm earned ($0.23) earnings per share. On average, research analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings 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 purchasing an additional 6,960 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Agora during the third quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora during the third quarter valued at approximately $28,000. Jane Street Group LLC purchased a new position in shares of Agora during the fourth quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Agora during the fourth quarter valued at approximately $69,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

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.