Agora (NASDAQ:API) Stock Price Down 8.4% – Time to Sell?

Agora, Inc. (NASDAQ:API)’s stock price dropped 8.4% on Monday . The stock traded as low as $5.55 and last traded at $5.64. Approximately 528,042 shares traded hands during trading, a decline of 50% from the average daily volume of 1,049,051 shares. The stock had previously closed at $6.16.

Analyst Ratings Changes

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

Agora Price Performance

The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a market cap of $520.93 million, a price-to-earnings ratio of -11.53, a P/E/G ratio of 4.01 and a beta of 0.38. The business has a 50-day moving average price of $4.97 and a 200 day moving average price of $3.86.

Agora (NASDAQ:API) last released its quarterly earnings results 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 last year, the business posted ($0.23) earnings per share. As a group, research analysts expect that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agora

A number of large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Agora during the 4th quarter worth approximately $395,000. Public Employees Retirement System of Ohio boosted its position in shares of Agora by 2,792.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 35,432 shares of the company’s stock worth $147,000 after buying an additional 34,207 shares during the period. Squarepoint Ops LLC acquired a new position in Agora during the fourth quarter valued at $71,000. Two Sigma Investments LP lifted its stake in Agora by 7.7% in the 4th quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock worth $244,000 after acquiring an additional 4,207 shares in the last quarter. Finally, MY.Alpha Management HK Advisors Ltd acquired a new stake in Agora during the 4th quarter worth about $3,057,000. Institutional investors and hedge funds 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.