Agora (NASDAQ:API) Stock Price Up 10.1% – Time to Buy?

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

Analyst Ratings Changes

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

Agora Trading Up 9.9 %

The firm has a market cap of $512.63 million, a PE ratio of -11.37 and a beta of 0.28. 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 stock’s fifty day simple moving average is $3.65 and its 200-day simple moving average is $2.78.

Institutional Investors Weigh In On Agora

Institutional investors have recently bought and sold shares of the company. Clearline Capital LP grew its stake in Agora by 4.0% during the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after buying an additional 4,975 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Agora by 8.4% during the 2nd 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 during the period. Quadrature Capital Ltd acquired a new stake in Agora in the third quarter valued at $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Agora in the third quarter valued at $28,000. Finally, Dimensional Fund Advisors LP grew its holdings 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 buying an additional 52,432 shares in the last quarter. 40.40% of the stock is currently owned by institutional investors and hedge funds.

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.