Agora (NASDAQ:API) Shares Gap Down – Should You Sell?

Shares of Agora, Inc. (NASDAQ:API) gapped down before the market opened on Friday . The stock had previously closed at $6.19, but opened at $5.73. Agora shares last traded at $5.71, with a volume of 314,498 shares traded.

Wall Street Analyst Weigh In

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

Agora Stock Down 8.6 %

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 firm has a market capitalization of $521.85 million, a P/E ratio of -11.55, a PEG ratio of 4.36 and a beta of 0.38. The firm’s fifty day moving average price is $5.10 and its 200-day moving average price is $3.95.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TMT General Partner Ltd bought a new stake in Agora in the fourth quarter worth about $13,004,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Agora during the fourth quarter valued at approximately $12,459,000. Yong Rong HK Asset Management Ltd bought a new stake in Agora during the fourth quarter worth approximately $10,192,000. Harber Asset Management LLC grew its position in Agora by 6.1% in the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after buying an additional 123,523 shares during the last quarter. Finally, Hhlr Advisors LTD. bought a new position in shares of Agora in the fourth quarter valued at $8,730,000. 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.