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

Agora, Inc. (NASDAQ:API) gapped up prior to trading on Tuesday . The stock had previously closed at $5.60, but opened at $5.85. Agora shares last traded at $6.08, with a volume of 531,181 shares.

Analyst Upgrades and Downgrades

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

Agora Stock Performance

The company’s 50 day simple moving average is $4.83 and its 200-day simple moving average is $3.54. 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 posted its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share (EPS) 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 posted ($0.23) EPS. As a group, research analysts forecast that Agora, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Agora by 0.5% during the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after purchasing an additional 2,791 shares in the last quarter. TMT General Partner Ltd purchased a new stake in shares of Agora in the 4th quarter valued at $13,004,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Agora during the 3rd quarter valued at $28,000. Dimensional Fund Advisors LP raised its position in Agora by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after purchasing an additional 52,432 shares during the period. Finally, Clearline Capital LP lifted its stake 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 purchasing an additional 4,975 shares during the last quarter. 40.40% of the stock is currently owned by institutional investors.

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.