Agora (NASDAQ:API) Sees Unusually-High Trading Volume – Here’s What Happened

Agora, Inc. (NASDAQ:API) shares saw strong trading volume on Wednesday . 1,626,777 shares were traded during trading, an increase of 103% from the previous session’s volume of 801,098 shares.The stock last traded at $5.60 and had previously closed at $4.74.

Analysts Set New Price Targets

Separately, Bank of America downgraded shares of Agora from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.63 in a research note on Tuesday, August 20th.

Agora Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 8.29 and a quick ratio of 8.29. The business has a fifty day moving average of $3.35 and a 200 day moving average of $2.69. The stock has a market cap of $573.48 million, a PE ratio of -12.10 and a beta of -0.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in Agora during the third quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Agora during the third quarter valued at $28,000. Acadian Asset Management LLC increased its stake in Agora by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after purchasing an additional 5,051 shares in the last quarter. Clearline Capital LP lifted its stake 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 buying an additional 36,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 worth $585,000 after buying an additional 52,432 shares during the period. 40.40% of the stock is owned by institutional investors and hedge funds.

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.