Agora (NASDAQ:API) Shares Up 8.3% – Here’s What Happened

Agora, Inc. (NASDAQ:API) shares rose 8.3% during trading on Thursday . The company traded as high as $6.39 and last traded at $6.27. Approximately 478,668 shares traded hands during trading, a decline of 47% from the average daily volume of 906,399 shares. The stock had previously closed at $5.79.

Wall Street Analysts Forecast Growth

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

Agora Stock Performance

The stock has a fifty day simple moving average of $4.83 and a 200-day simple moving average of $3.54. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $568.87 million, a P/E ratio of -12.59, a PEG ratio of 3.95 and a beta of 0.38.

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

Hedge Funds Weigh In On Agora

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after purchasing an additional 52,432 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora in the 3rd quarter valued at $28,000. Clearline Capital LP increased its stake 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. Harber Asset Management LLC raised its position in shares of Agora by 6.1% during the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after acquiring an additional 123,523 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Agora during the third quarter valued at $27,000. Institutional investors 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.