Agora (NASDAQ:API) Upgraded at Bank of America

Agora (NASDAQ:API) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $6.00 price target on the stock, up from their prior price target of $3.10. Bank of America‘s price objective would indicate a potential upside of 24.74% from the stock’s previous close.

Agora Stock Performance

NASDAQ API opened at $4.81 on Thursday. 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 twelve month low of $1.65 and a twelve month high of $6.64. The stock has a 50-day moving average of $4.63 and a 200 day moving average of $3.27. The stock has a market capitalization of $443.49 million, a price-to-earnings ratio of -9.82 and a beta of 0.34.

Institutional Investors Weigh In On Agora

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in shares of Agora in the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Agora in the 3rd quarter valued at about $28,000. Acadian Asset Management LLC boosted its holdings in Agora by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after buying an additional 5,051 shares during the last quarter. Clearline Capital LP increased its stake in Agora by 41.8% during the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after buying an additional 36,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $585,000 after acquiring an additional 52,432 shares in 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.