Agora (NASDAQ:API) Stock Price Down 4.8% – Here’s Why

Shares of Agora, Inc. (NASDAQ:API) fell 4.8% during mid-day trading on Friday . The company traded as low as $6.15 and last traded at $6.15. 1,326,448 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 1,012,889 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

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

Agora Trading Down 7.6 %

The stock’s 50 day moving average is $4.91 and its 200 day moving average is $3.73. 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 announced its earnings results on Monday, November 25th. The company reported ($0.26) earnings per share (EPS) 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 last year, the business posted ($0.23) EPS. Equities analysts expect that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in API. Quadrature Capital Ltd acquired a new position in shares of Agora during the 3rd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agora during the 3rd quarter worth approximately $28,000. Rhumbline Advisers grew its position in shares of Agora by 1,988.6% during the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock worth $30,000 after purchasing an additional 6,960 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Agora during the 4th quarter worth approximately $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Agora during the 4th quarter worth approximately $69,000. 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.