Agora (NASDAQ:API) Shares Gap Down – What’s Next?

Agora, Inc. (NASDAQ:API) shares gapped down prior to trading on Friday . The stock had previously closed at $6.19, but opened at $5.73. Agora shares last traded at $5.71, with a volume of 314,498 shares changing hands.

Analyst Upgrades and Downgrades

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

Agora Price Performance

The company has a market cap of $521.85 million, a P/E ratio of -11.55, a P/E/G ratio of 4.36 and a beta of 0.38. The company’s 50-day moving average price is $5.10 and its two-hundred day moving average price is $3.95. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

Agora (NASDAQ:API) last announced its quarterly earnings data 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 period in the prior year, the business earned ($0.23) earnings per share. As a group, sell-side analysts expect that Agora, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Agora

Several institutional investors have recently added to or reduced their stakes in API. JPMorgan Chase & Co. boosted its holdings in shares of Agora by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares during the period. Two Sigma Investments LP boosted its position in Agora by 7.7% during the 4th quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock valued at $244,000 after purchasing an additional 4,207 shares during the period. Clearline Capital LP increased its position in Agora by 4.0% in the third 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. Rhumbline Advisers lifted its stake in 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 buying an additional 6,960 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Agora by 7.9% during the fourth quarter. Barclays PLC now owns 119,572 shares of the company’s stock valued at $497,000 after acquiring an additional 8,724 shares during the period. 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.