Agora (NASDAQ:API) Sets New 12-Month High – Here’s Why

Agora, Inc. (NASDAQ:API) shares hit a new 52-week high on Tuesday . The company traded as high as $6.73 and last traded at $6.65, with a volume of 1889308 shares traded. The stock had previously closed at $6.16.

Analyst Upgrades and Downgrades

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

Agora Stock Up 8.0 %

The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $4.88 and a 200-day simple moving average of $3.63. The stock has a market cap of $613.13 million, a P/E ratio of -13.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.38.

Agora (NASDAQ:API) last posted its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same period in the prior year, the firm posted ($0.23) EPS. On average, equities research analysts forecast that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TMT General Partner Ltd bought a new position in Agora in the 4th quarter valued at about $13,004,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Agora in the 4th quarter valued at $12,459,000. Yong Rong HK Asset Management Ltd bought a new position in shares of Agora in the 4th quarter valued at $10,192,000. Harber Asset Management LLC lifted its position in shares of Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after buying an additional 123,523 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares in the last quarter. 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.