Agora (NASDAQ:API) Shares Gap Up – Should You Buy?

Agora, Inc. (NASDAQ:API)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.74, but opened at $6.02. Agora shares last traded at $5.68, with a volume of 888,194 shares trading hands.

Wall Street Analyst Weigh In

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

Agora Trading Down 1.0 %

The business has a fifty day simple moving average of $4.93 and a 200-day simple moving average of $3.80. 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 firm has a market cap of $523.70 million, a price-to-earnings ratio of -11.59, a PEG ratio of 4.06 and a beta of 0.38.

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

Hedge Funds Weigh In On Agora

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Agora by 1,988.6% in the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after acquiring an additional 6,960 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Agora in the 3rd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Agora in the 3rd quarter valued at $28,000. Jane Street Group LLC bought a new position in Agora during the fourth quarter worth $53,000. Finally, EntryPoint Capital LLC acquired a new position in Agora in the fourth quarter valued at $69,000. 40.40% of the stock is currently owned by institutional investors.

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.