Agora (NASDAQ:API) Sees Large Volume Increase – Still a Buy?

Agora, Inc. (NASDAQ:API) saw unusually-high trading volume on Wednesday . Approximately 1,366,792 shares traded hands during trading, an increase of 27% from the previous session’s volume of 1,079,501 shares.The stock last traded at $6.42 and had previously closed at $5.91.

Wall Street Analyst Weigh In

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

Agora Price Performance

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 stock has a market cap of $624.19 million, a PE ratio of -13.82, a P/E/G ratio of 4.36 and a beta of 0.38. The business has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $3.91.

Agora (NASDAQ:API) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.26) earnings per share for the quarter. Agora had a negative net margin of 33.74% and a negative return on equity of 7.70%. During the same period in the prior year, the company earned ($0.23) EPS. Research analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Agora

Several hedge funds and other institutional investors have recently modified their holdings of API. GF Fund Management CO. LTD. purchased a new position in shares of Agora during the 4th quarter valued at about $395,000. Public Employees Retirement System of Ohio raised its stake in Agora by 2,792.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,432 shares of the company’s stock valued at $147,000 after purchasing an additional 34,207 shares in the last quarter. Squarepoint Ops LLC bought a new position in Agora during the fourth quarter valued at $71,000. Two Sigma Investments LP raised its holdings in shares of Agora by 7.7% in the fourth quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock worth $244,000 after buying an additional 4,207 shares during the period. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in shares of Agora during the fourth quarter valued at $3,057,000. 40.40% of the stock is owned by institutional investors.

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.