Agora (NASDAQ:API) Stock Price Down 4.2% – Time to Sell?

Shares of Agora, Inc. (NASDAQ:API) were down 4.2% on Monday . The stock traded as low as $5.38 and last traded at $5.46. Approximately 114,273 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,058,305 shares. The stock had previously closed at $5.70.

Analyst Ratings Changes

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

Agora Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15. The company has a 50 day moving average price of $5.37 and a 200 day moving average price of $4.27. The company has a market capitalization of $484.06 million, a price-to-earnings ratio of -10.71, a P/E/G ratio of 4.36 and a beta of 0.37.

Hedge Funds Weigh In On Agora

Hedge funds have recently added to or reduced their stakes in the stock. TMT General Partner Ltd bought a new position in shares of Agora during the 4th quarter worth approximately $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Agora during the 4th quarter worth approximately $12,459,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of Agora in the 4th quarter worth approximately $10,192,000. Hhlr Advisors LTD. bought a new stake in shares of Agora in the 4th quarter worth approximately $8,730,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Agora in the 4th quarter worth approximately $3,082,000. 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.