Agora (NASDAQ:API) Sees Strong Trading Volume – What’s Next?

Agora, Inc. (NASDAQ:API) saw an uptick in 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.

Wall Street Analysts Forecast Growth

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

Agora Stock Performance

The stock has a 50-day simple moving average of $3.44 and a 200 day simple moving average of $2.72. 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 company has a market capitalization of $585.48 million, a PE ratio of -13.80 and a beta of -0.03.

Hedge Funds Weigh In On Agora

A number of institutional investors have recently made changes to their positions in the stock. Clearline Capital LP raised its holdings in shares of Agora by 4.0% in the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after acquiring an additional 4,975 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Agora by 8.4% in the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after acquiring an additional 5,051 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Agora in the third quarter worth $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Agora in the third quarter worth $28,000. Finally, Dimensional Fund Advisors LP raised 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 acquiring an additional 52,432 shares during the last quarter. 40.40% of the stock is owned by institutional investors and hedge funds.

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.