Agora (NASDAQ:API) Trading Down 8.4% – Here’s What Happened

Agora, Inc. (NASDAQ:API)’s stock price was down 8.4% during mid-day trading on Monday . The stock traded as low as $5.55 and last traded at $5.64. Approximately 528,042 shares changed hands during trading, a decline of 50% from the average daily volume of 1,049,051 shares. The stock had previously closed at $6.16.

Analyst Ratings Changes

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

Agora Price Performance

The company has a market capitalization of $600.22 million, a price-to-earnings ratio of -13.29, a PEG ratio of 4.36 and a beta of 0.38. 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 company’s 50 day simple moving average is $5.02 and its 200-day simple moving average is $3.91.

Agora (NASDAQ:API) last released its earnings results on Monday, November 25th. The company reported ($0.26) 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 period last year, the business earned ($0.23) earnings per share. On average, equities research analysts predict that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agora

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