Agora (NASDAQ:API) Trading Up 8.1% – Still a Buy?

Agora, Inc. (NASDAQ:API)’s stock price shot up 8.1% during trading on Friday . The company traded as high as $6.30 and last traded at $6.13. 518,173 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 1,025,972 shares. The stock had previously closed at $5.67.

Wall Street Analysts Forecast Growth

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

Agora Trading Up 8.6 %

The firm has a market capitalization of $567.95 million, a price-to-earnings ratio of -12.57, a price-to-earnings-growth ratio of 4.06 and a beta of 0.38. The firm’s 50 day moving average is $4.94 and its 200 day moving average is $3.81. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

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 previous year, the company posted ($0.23) EPS. Equities analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. TMT General Partner Ltd bought a new position in shares of Agora in the fourth quarter worth about $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Agora in the 4th quarter worth approximately $12,459,000. Yong Rong HK Asset Management Ltd acquired a new position in Agora during the 4th quarter worth $10,192,000. Harber Asset Management LLC increased its stake in shares of Agora by 6.1% in the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after buying an additional 123,523 shares during the period. Finally, Hhlr Advisors LTD. bought a new stake in shares of Agora during the fourth quarter worth $8,730,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

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.