Agora (NASDAQ:API) Shares Gap Up – Time to Buy?

Shares of Agora, Inc. (NASDAQ:API) gapped up prior to trading on Thursday . The stock had previously closed at $5.74, but opened at $6.02. Agora shares last traded at $5.68, with a volume of 888,194 shares trading hands.

Analyst Upgrades and Downgrades

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

Agora Stock Performance

The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $567.95 million, a price-to-earnings ratio of -12.57, a price-to-earnings-growth ratio of 4.01 and a beta of 0.38. The stock’s 50 day moving average is $4.97 and its two-hundred day moving average is $3.84.

Agora (NASDAQ:API) last released its earnings results on Monday, November 25th. The company reported ($0.26) earnings per share 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 prior year, the firm earned ($0.23) earnings per share. Analysts expect that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agora

A number of large investors have recently added to or reduced their stakes in API. Quadrature Capital Ltd bought a new position in shares of Agora in the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora in the 3rd quarter valued at about $28,000. Rhumbline Advisers raised its holdings in Agora by 1,988.6% in the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after acquiring an additional 6,960 shares during the period. Jane Street Group LLC bought a new stake in shares of Agora during the fourth quarter worth approximately $53,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Agora during the fourth quarter worth approximately $69,000. Institutional investors own 40.40% of the company’s stock.

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.