Agora (NASDAQ:API) Shares Gap Down – What’s Next?

Agora, Inc. (NASDAQ:API) shares gapped down before the market opened on Friday . The stock had previously closed at $6.35, but opened at $6.02. Agora shares last traded at $5.59, with a volume of 1,116,328 shares traded.

Analysts Set New Price Targets

Separately, Bank of America cut shares of Agora from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.63 in a research note on Tuesday, August 20th.

Agora Price Performance

The company has a market cap of $481.28 million, a PE ratio of -11.41 and a beta of -0.03. The company has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $2.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 8.29.

Institutional Investors Weigh In On Agora

A number of institutional investors have recently modified their holdings of API. Clearline Capital LP boosted its holdings in shares of Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after acquiring an additional 36,244 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after buying an additional 52,432 shares in the last quarter. Bank of Montreal Can acquired a new position in Agora during the second quarter worth about $777,000. Quadrature Capital Ltd bought a new stake in Agora in the third quarter worth about $27,000. Finally, Harber Asset Management LLC boosted its position in shares of Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after purchasing an additional 123,523 shares in the last quarter. 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.