Bank of America upgraded shares of Agora (NASDAQ:API – Free Report) from a neutral rating to a buy rating in a research note released on Thursday, MarketBeat.com reports. The firm currently has $6.00 price objective on the stock, up from their previous price objective of $3.10.
Agora Stock Performance
Shares of Agora stock opened at $4.67 on Thursday. The firm has a market cap of $430.57 million, a P/E ratio of -9.53 and a beta of 0.34. 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 firm has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $3.26. Agora has a fifty-two week low of $1.65 and a fifty-two week high of $6.64.
Institutional Trading of Agora
A number of institutional investors have recently bought and sold shares of the business. TMT General Partner Ltd acquired a new stake in shares of Agora during the fourth quarter worth $13,004,000. JPMorgan Chase & Co. boosted its stake in Agora by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after acquiring an additional 2,791 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Agora in the third quarter valued at approximately $27,000. Harber Asset Management LLC raised its holdings in Agora by 6.1% in the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after purchasing an additional 123,523 shares during the period. Finally, Clearline Capital LP grew 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. 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.
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