Agora (NASDAQ:API) Shares Gap Down - What's Next?

Agora, Inc. (NASDAQ:API) experienced a notable decline in its share price as it gapped down in early trading on Thursday. The stock had closed at $6.41 the day prior but opened at a lower price of $6.17. By the end of the day, Agora shares were trading at $6.28 with a trading volume of 230,523 shares.

Analysts Set New Price Targets

In recent news, Bank of America upgraded its rating on Agora from "neutral" to "buy" and revised their price target significantly from $3.10 to $6.00 in a research update released on January 16th.

Agora Stock Performance

Agora has a market capitalization of approximately $583.63 million. The company's price-to-earnings ratio stands at -12.92, indicating a loss per share, while its price-to-earnings-growth ratio is currently at 4.34. Agora's beta is 0.38, suggesting less volatility compared to the broader market. With a debt-to-equity ratio of 0.06, the company appears to maintain a low level of debt. Its quick and current ratios are both at 6.15, indicating strong short-term liquidity. The fifty-day simple moving average for Agora stands at $4.90, while the two-hundred-day simple moving average is $3.68.

The company's most recent quarterly earnings report, announced on November 25th, showed a loss of ($0.26) earnings per share. Last year, during the same quarter, Agora reported a smaller loss of ($0.23) EPS. Analysts forecast that Agora will post an earnings per share of -0.4 for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have actively adjusted their positions in Agora stock recently. In the third quarter, JPMorgan Chase & Co. increased its stake in Agora by 0.5%, bringing its total to 610,457 shares valued at $1,471,000 after acquiring an additional 2,791 shares. Clearline Capital LP also increased its holdings by 4.0%, now owning 127,974 shares worth $308,000 after an additional purchase of 4,975 shares. Notably, Rhumbline Advisers raised its ownership by a staggering 1,988.6% in the fourth quarter, amassing 7,310 shares valued at about $30,000. Quadrature Capital Ltd and Connor Clark & Lunn Investment Management Ltd. made new investments in Agora, valued at approximately $27,000 and $28,000, respectively. Collectively, institutional investors and hedge funds hold about 40.40% of Agora's stock.

Agora Company Profile

Agora, Inc. operates within the real-time engagement technology sector, providing services in China, the United States, and other international markets. The company specializes in offering a platform-as-a-service that allows developers to integrate real-time voice, video, interactive live-streaming, and artificial intelligence features into their applications thanks to its application programming interfaces (APIs).

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