Agora, Inc. (NASDAQ:API – Get Free Report) shares were down 4.2% during mid-day trading on Monday . The stock traded as low as $5.38 and last traded at $5.46. Approximately 114,273 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,058,305 shares. The stock had previously closed at $5.70.
Analyst Ratings Changes
Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.10 to $6.00 in a research report on Thursday, January 16th.
Read Our Latest Stock Report on API
Agora Stock Down 2.3 %
Institutional Investors Weigh In On Agora
Several hedge funds and other institutional investors have recently added to or reduced their stakes in API. Quadrature Capital Ltd acquired a new position in shares of Agora during the 3rd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora during the third quarter worth about $28,000. Rhumbline Advisers increased its position in Agora by 1,988.6% during the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock worth $30,000 after buying an additional 6,960 shares during the last quarter. Jane Street Group LLC bought a new stake in Agora in the fourth quarter valued at approximately $53,000. Finally, EntryPoint Capital LLC bought a new position in shares of Agora during the 4th quarter worth approximately $69,000. 40.40% of the stock is currently owned by institutional investors and hedge funds.
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.
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