Agora (NASDAQ:API) Shares Gap Down – Here’s Why

Agora, Inc. (NASDAQ:API)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $6.41, but opened at $6.17. Agora shares last traded at $6.28, with a volume of 230,523 shares.

Analysts Set New Price Targets

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

Agora Stock Performance

The company has a market capitalization of $583.63 million, a price-to-earnings ratio of -12.92, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15. The company’s fifty day simple moving average is $4.90 and its two-hundred day simple moving average is $3.68.

Agora (NASDAQ:API) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share 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 last year, the business earned ($0.23) EPS. Equities research analysts predict that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Agora by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares during the period. Clearline Capital LP boosted its holdings in shares of Agora by 4.0% in the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock valued at $308,000 after buying an additional 4,975 shares during the period. Rhumbline Advisers boosted its holdings in shares of Agora by 1,988.6% in the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after buying an additional 6,960 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Agora in the 3rd quarter valued at about $27,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agora in the 3rd quarter valued at about $28,000. 40.40% of the stock is 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.