Agora (NASDAQ:API) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Agora (NASDAQ:API) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat reports. They currently have $6.00 price target on the stock, up from their previous price target of $3.10.

Agora Stock Performance

Shares of API stock opened at $4.81 on Thursday. The company has a market cap of $443.48 million, a P/E ratio of -9.82 and a beta of 0.34. The firm has a fifty day moving average price of $4.63 and a 200 day moving average price of $3.28. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. Agora has a 12 month low of $1.65 and a 12 month high of $6.64.

Institutional Investors Weigh In On Agora

Several institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in shares of Agora during the 3rd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora during the third quarter worth about $28,000. Acadian Asset Management LLC increased its position 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 worth $137,000 after purchasing an additional 5,051 shares in the last quarter. Clearline Capital LP boosted its position in shares of Agora by 41.8% in the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after purchasing an additional 36,244 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Agora by 23.5% during the 2nd 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 period. Hedge funds and other institutional investors 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.