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

Shares of Agora, Inc. (NASDAQ:API) gapped up prior to trading on Monday . The stock had previously closed at $6.16, but opened at $6.45. Agora shares last traded at $6.19, with a volume of 503,898 shares.

Analysts Set New Price Targets

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

Agora Price Performance

The stock has a market cap of $558.73 million, a PE ratio of -12.37, a P/E/G ratio of 4.34 and a beta of 0.38. The firm’s fifty day moving average price is $4.89 and its 200 day moving average price is $3.66. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

Agora (NASDAQ:API) last issued 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 previous year, the business posted ($0.23) EPS. As a group, equities analysts expect that Agora, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Agora

Several large investors have recently modified their holdings of API. Quadrature Capital Ltd bought a new stake in shares of Agora in the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Agora during the third quarter valued at approximately $28,000. Rhumbline Advisers raised its stake in Agora by 1,988.6% in 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 in the last quarter. EntryPoint Capital LLC bought a new stake in Agora during the 4th quarter valued at $69,000. Finally, Virtu Financial LLC bought a new position in shares of Agora in the 4th quarter worth $155,000. Institutional investors own 40.40% of the company’s stock.

About Agora

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.