Agora (NASDAQ:API) Stock Price Up 6.3% – Here’s What Happened

Agora, Inc. (NASDAQ:API) shares rose 6.3% on Wednesday . The stock traded as high as $5.60 and last traded at $5.56. Approximately 381,752 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 743,730 shares. The stock had previously closed at $5.23.

Wall Street Analyst Weigh In

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

Agora Stock Up 10.9 %

The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The firm’s 50 day simple moving average is $4.72 and its 200-day simple moving average is $3.41. The stock has a market capitalization of $534.76 million, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 3.32 and a beta of 0.34.

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 quarter last year, the business earned ($0.23) earnings per share. Equities analysts expect that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new stake in Agora in the 3rd quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Agora in the 3rd quarter valued at about $28,000. Clearline Capital LP lifted its holdings in shares of 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 acquiring an additional 4,975 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Agora by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after acquiring an additional 52,432 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Agora during the 2nd quarter worth approximately $777,000. Institutional investors and hedge funds 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.