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 trading hands.

Analysts Set New Price Targets

Separately, Bank of America raised 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 research note on Thursday, January 16th.

Agora Price Performance

The company has a 50-day moving average of $5.15 and a 200-day moving average of $4.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15. The firm has a market capitalization of $508.96 million, a price-to-earnings ratio of -11.27, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37.

Institutional Investors Weigh In On Agora

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in shares of 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 purchasing an additional 6,960 shares during the last quarter. Quadrature Capital Ltd bought a new position in Agora in the third quarter valued at $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Agora in the 3rd quarter valued at $28,000. Jane Street Group LLC bought a new stake in Agora during the 4th quarter worth about $53,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Agora during the 4th quarter worth about $69,000. 40.40% of the stock is owned by institutional investors.

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.