Agora (NASDAQ:API) Shares Gap Down – Here’s Why

Agora, Inc. (NASDAQ:API) gapped down prior to trading on Thursday . The stock had previously closed at $6.41, but opened at $6.17. Agora shares last traded at $6.28, with a volume of 230,523 shares changing hands.

Analyst Upgrades and Downgrades

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

Agora Price Performance

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 business’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $3.68. The stock has a market capitalization of $583.63 million, a price-to-earnings ratio of -12.92, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38.

Agora (NASDAQ:API) last posted its earnings results on Monday, November 25th. The company reported ($0.26) earnings per share (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 last year, the business earned ($0.23) EPS. Research analysts anticipate that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Agora

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TMT General Partner Ltd bought a new stake in shares of Agora during the 4th quarter worth about $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Agora during the 4th quarter worth about $12,459,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of Agora during the 4th quarter worth about $10,192,000. Harber Asset Management LLC raised its position in shares of Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after buying an additional 123,523 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Agora during the 4th quarter worth about $3,082,000. 40.40% of the stock is currently 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.