Agora (NASDAQ:API) Stock Rating Upgraded by Bank of America

Agora (NASDAQ:API) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday,Finviz reports. The brokerage currently has a $6.00 price target on the stock. Bank of America‘s target price indicates a potential upside of 50.00% from the stock’s previous close.

Agora Stock Performance

Shares of API stock opened at $4.00 on Thursday. The firm has a market cap of $368.80 million, a PE ratio of -8.16 and a beta of 0.34. Agora has a 12 month low of $1.65 and a 12 month high of $6.64. The company’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $3.25. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Agora

Hedge funds have recently modified their holdings of the stock. Clearline Capital LP boosted its position in Agora by 41.8% during the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after purchasing an additional 36,244 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora in the 3rd quarter valued at approximately $28,000. Dimensional Fund Advisors LP grew its stake 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 buying an additional 52,432 shares in the last quarter. Bank of Montreal Can bought a new stake in Agora during the second quarter worth $777,000. Finally, Quadrature Capital Ltd acquired a new stake in Agora in the third quarter valued at $27,000. Institutional investors own 40.40% of the company’s stock.

Agora Company Profile

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.