Agora (NASDAQ:API) Stock Price Down 4.2% – Time to Sell?

Agora, Inc. (NASDAQ:API) shares dropped 4.2% during trading on Monday . The company traded as low as $5.38 and last traded at $5.46. Approximately 114,273 shares traded hands during trading, a decline of 89% from the average daily volume of 1,058,305 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded shares of Agora from a “neutral” rating to a “buy” rating and boosted their price target for the company from $3.10 to $6.00 in a research report on Thursday, January 16th.

Agora Price Performance

The firm’s 50-day moving average is $5.37 and its 200-day moving average is $4.27. The company has a market capitalization of $484.06 million, a PE ratio of -10.71, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

Institutional Trading of Agora

Several institutional investors have recently added to or reduced their stakes in API. TMT General Partner Ltd purchased a new stake in Agora during the fourth quarter valued at about $13,004,000. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Agora during the fourth quarter valued at about $12,459,000. Yong Rong HK Asset Management Ltd purchased a new stake in Agora during the fourth quarter valued at about $10,192,000. Hhlr Advisors LTD. purchased a new stake in Agora during the fourth quarter valued at about $8,730,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Agora during the fourth quarter valued at about $3,082,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

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.