Agora (NASDAQ:API) Stock Price Up 9.2% – Here’s Why

by · The Cerbat Gem

Agora, Inc. (NASDAQ:API – Get Free Report) shares were up 9.2% during trading on Tuesday . The company traded as high as $5.68 and last traded at $5.60. Approximately 167,224 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,095,855 shares. The stock had previously closed at $5.13.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on API

Agora Trading Up 5.7 %

The business’s 50-day moving average price is $5.21 and its two-hundred day moving average price is $4.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. The company has a market capitalization of $499.73 million, a price-to-earnings ratio of -11.06, a P/E/G ratio of 4.36 and a beta of 0.37.

Institutional Trading of Agora

Large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in Agora during the fourth quarter worth $395,000. Public Employees Retirement System of Ohio lifted its position in shares of Agora by 2,792.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,432 shares of the company’s stock valued at $147,000 after purchasing an additional 34,207 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Agora in the fourth quarter worth about $71,000. Two Sigma Investments LP boosted its holdings 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 buying an additional 4,207 shares during the period. Finally, MY.Alpha Management HK Advisors Ltd purchased a new stake in Agora during the 4th quarter worth about $3,057,000. 40.40% of the stock is owned by institutional investors and hedge funds.

About Agora

(Get Free Report)

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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