Bank of America upgraded shares of Agora (NASDAQ:API - Free Report) from a neutral rating to a buy rating in a research note released on Thursday, Marketbeat reports. The firm currently has $6.00 price objective on the stock, up from their previous price objective of $3.10.
Agora Trading Up 16.8 %
Shares of NASDAQ API traded up $0.67 during mid-day trading on Thursday, hitting $4.67. The company's stock had a trading volume of 2,098,935 shares, compared to its average volume of 711,961. The company's fifty day simple moving average is $4.63 and its 200-day simple moving average is $3.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. Agora has a one year low of $1.65 and a one year high of $6.64. The stock has a market cap of $430.57 million, a price-to-earnings ratio of -9.53 and a beta of 0.34.
Institutional Investors Weigh In On Agora
A number of institutional investors and hedge funds have recently modified their holdings of API. Quadrature Capital Ltd bought a new stake in shares of Agora during the 3rd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora during the third quarter worth $28,000. Acadian Asset Management LLC lifted its holdings in shares of Agora by 8.4% during the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company's stock worth $137,000 after buying an additional 5,051 shares in the last quarter. Clearline Capital LP grew its stake in shares of Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company's stock valued at $261,000 after acquiring an additional 36,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company's stock worth $585,000 after acquiring an additional 52,432 shares during the period. 40.40% of the stock is owned by institutional investors.
Agora Company Profile
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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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