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

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

Analysts Set New Price Targets

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

Agora Stock Performance

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

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. As a group, analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. TMT General Partner Ltd acquired a new stake in shares of Agora in the 4th quarter valued at approximately $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Agora in the 4th quarter valued at approximately $12,459,000. Yong Rong HK Asset Management Ltd acquired a new stake in Agora in the fourth quarter valued at approximately $10,192,000. Hhlr Advisors LTD. bought a new stake in shares of Agora during the fourth quarter worth $8,730,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Agora during the fourth quarter worth $3,082,000. 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.