Agora (NASDAQ:API) Trading Down 4.2% - What's Next?

Agora, Inc. (NASDAQ:API - Get Free Report) fell 4.2% during trading on Monday . The company traded as low as $5.38 and last traded at $5.46. 114,273 shares were traded during trading, a decline of 89% from the average session volume of 1,058,305 shares. The stock had previously closed at $5.70.

Wall Street Analysts Forecast Growth

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

Agora Price Performance

The stock has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $4.28. The firm has a market cap of $427.82 million, a PE ratio of -9.47, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Agora

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new position in Agora during the 3rd quarter valued at $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora in the third quarter worth approximately $28,000. Rhumbline Advisers raised its position in shares of Agora by 1,988.6% in the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company's stock worth $30,000 after acquiring an additional 6,960 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Agora during the 4th quarter worth $53,000. Finally, EntryPoint Capital LLC bought a new stake in Agora during the fourth quarter valued at about $69,000. Hedge funds and other institutional investors own 40.40% of the company's stock.

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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.