Agora (NASDAQ:API) Shares Gap Down – Here’s What Happened

Agora, Inc. (NASDAQ:API) gapped down before the market opened on Friday . The stock had previously closed at $6.35, but opened at $6.02. Agora shares last traded at $5.59, with a volume of 1,116,328 shares.

Analyst Ratings Changes

Separately, Bank of America downgraded shares of Agora from a “buy” rating to a “neutral” rating and lowered their price objective for the company 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 0.06, a quick ratio of 8.29 and a current ratio of 6.15. The company has a market cap of $481.28 million, a P/E ratio of -11.41 and a beta of -0.03. The firm has a 50 day moving average price of $3.53 and a 200-day moving average price of $2.74.

Institutional Investors Weigh In On Agora

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of Agora during the 3rd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora in the 3rd quarter worth approximately $28,000. Acadian Asset Management LLC lifted its holdings in shares of Agora by 8.4% during the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after buying an additional 5,051 shares during the last quarter. Clearline Capital LP boosted its position in shares of Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after acquiring an additional 36,244 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $585,000 after acquiring an additional 52,432 shares during the period. 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.