Agora (NASDAQ:API) Hits New 12-Month High – What’s Next?

Shares of Agora, Inc. (NASDAQ:API) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.73 and last traded at $6.65, with a volume of 1889308 shares. The stock had previously closed at $6.16.

Analysts Set New Price Targets

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

Agora Stock Performance

The business’s fifty day moving average is $4.90 and its 200-day moving average is $3.68. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a market cap of $591.00 million, a PE ratio of -13.08, a P/E/G ratio of 4.34 and a beta of 0.38.

Agora (NASDAQ:API) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.26) earnings per share 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 in the previous year, the firm posted ($0.23) EPS. As a group, research analysts predict that Agora, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of Agora

A number of hedge funds and other institutional investors have recently bought and sold shares of API. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Agora in the third quarter worth approximately $28,000. Clearline Capital LP boosted its holdings in Agora by 4.0% in the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after buying an additional 4,975 shares during the period. Harber Asset Management LLC increased its stake in Agora by 6.1% in 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. Quadrature Capital Ltd bought a new stake in Agora during the third quarter valued at about $27,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after acquiring an additional 2,791 shares during the period. Hedge funds and other 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.