Agora (NASDAQ:API) Shares Gap Down – What’s Next?

Agora, Inc. (NASDAQ:API)’s share price gapped down prior to trading 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 traded.

Wall Street Analyst Weigh In

Separately, Bank of America lowered Agora from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.63 in a report on Tuesday, August 20th.

Agora Stock Down 18.7 %

The company has a quick ratio of 8.29, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The company has a market cap of $475.75 million, a PE ratio of -10.53 and a beta of -0.03. The stock has a 50-day moving average of $3.59 and a 200-day moving average of $2.76.

Institutional Investors Weigh In On Agora

A number of institutional investors and hedge funds have recently made changes to their positions in API. Quadrature Capital Ltd purchased a new stake in shares of Agora in the third quarter worth $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Agora during the third quarter valued at about $28,000. Acadian Asset Management LLC grew its stake 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 valued at $137,000 after buying an additional 5,051 shares during the last quarter. Clearline Capital LP grew its stake in shares of 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 during the last quarter. Finally, 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 worth $585,000 after purchasing an additional 52,432 shares during the last quarter. Hedge funds and other 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.