Agora (NASDAQ:API) Sets New 52-Week High at $6.23

Agora, Inc. (NASDAQ:API - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $6.23 and last traded at $6.23, with a volume of 27592916 shares traded. The stock had previously closed at $2.75.

Analyst Ratings Changes

Separately, Bank of America cut shares of Agora from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $4.00 to $2.63 in a research report on Tuesday, August 20th.

Agora Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.29 and a current ratio of 8.29. The stock has a market cap of $455.48 million, a P/E ratio of -6.10 and a beta of -0.01. The firm's 50 day moving average is $2.17 and its 200 day moving average is $2.38.

Agora (NASDAQ:API - Get Free Report) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $34.21 million for the quarter, compared to the consensus estimate of $34.46 million. Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. During the same quarter last year, the firm earned ($0.45) EPS. Analysts anticipate that Agora, Inc. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of API. Nomura Holdings Inc. acquired a new position in Agora during the 4th quarter valued at approximately $37,000. Acadian Asset Management LLC increased its stake in shares of Agora by 8.4% in the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company's stock worth $137,000 after acquiring an additional 5,051 shares during the period. Clearline Capital LP increased 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 worth $261,000 after acquiring an additional 36,244 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Agora by 23.5% in 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. Finally, Bank of Montreal Can acquired a new stake in shares of Agora in the second quarter worth $777,000. 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.