Agora (NASDAQ:API) Shares Up 6.6% – Still a Buy?

Agora, Inc. (NASDAQ:API)’s stock price was up 6.6% during trading on Wednesday . The stock traded as high as $6.65 and last traded at $6.46. Approximately 447,920 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 983,264 shares. The stock had previously closed at $6.06.

Analyst Ratings Changes

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

Agora Trading Up 6.8 %

The firm has a market capitalization of $596.53 million, a PE ratio of -13.20, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38. 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’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $3.66.

Agora (NASDAQ:API) last posted 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 quarter in the previous year, the firm posted ($0.23) EPS. As a group, sell-side analysts expect that Agora, Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership acquired a new stake in Agora in the fourth quarter worth about $3,082,000. EntryPoint Capital LLC acquired a new stake in Agora in the 4th quarter worth approximately $69,000. American Century Companies Inc. boosted its stake in Agora by 159.5% in the 4th quarter. American Century Companies Inc. now owns 119,168 shares of the company’s stock worth $496,000 after purchasing an additional 73,243 shares in the last quarter. Virtu Financial LLC purchased a new stake in Agora during the 4th quarter worth approximately $155,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Agora by 3,671.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,795 shares of the company’s stock worth $1,850,000 after buying an additional 433,001 shares during the last quarter. 40.40% of the stock is currently owned by hedge funds and other 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.