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

Agora, Inc. (NASDAQ:API) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.24, but opened at $5.51. Agora shares last traded at $5.48, with a volume of 375,224 shares traded.

Analyst Ratings Changes

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 Stock Up 5.3 %

The company has a market cap of $508.96 million, a P/E ratio of -11.27, a PEG ratio of 4.36 and a beta of 0.37. 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 firm has a fifty day moving average price of $5.15 and a 200 day moving average price of $4.03.

Institutional Trading of Agora

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in Agora during the 3rd quarter worth $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agora during the third quarter valued at $28,000. 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. Jane Street Group LLC acquired a new stake in Agora in the fourth quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new stake in Agora in the fourth quarter worth about $69,000. 40.40% of the stock is 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.