Agora (NASDAQ:API) Hits New 1-Year High – Here’s Why

Agora, Inc. (NASDAQ:API)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $6.99 and last traded at $6.51, with a volume of 3572715 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

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

Agora Stock Performance

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 has a market cap of $521.86 million, a P/E ratio of -11.55, a PEG ratio of 4.36 and a beta of 0.38. The company has a fifty day moving average of $5.10 and a 200 day moving average of $3.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in Agora in the third quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Agora in the third quarter worth approximately $28,000. Rhumbline Advisers grew its position in Agora by 1,988.6% during the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock worth $30,000 after purchasing an additional 6,960 shares in the last quarter. Jane Street Group LLC purchased a new position in Agora during the 4th quarter worth approximately $53,000. Finally, EntryPoint Capital LLC purchased a new position in Agora during the 4th quarter worth approximately $69,000. 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.