Agora (NASDAQ:API) Shares Down 3.2% – Here’s What Happened

Shares of Agora, Inc. Sponsored ADR (NASDAQ:API) were down 3.2% on Thursday . The stock traded as low as $3.92 and last traded at $3.98. Approximately 366,755 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 296,444 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

Several research analysts have weighed in on API shares. Zacks Research cut Agora from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen raised Agora from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Agora in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Agora Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.58 and a current ratio of 4.58. The company has a market capitalization of $373.73 million, a P/E ratio of 47.56 and a beta of 0.73. The business has a 50 day moving average of $3.86 and a 200-day moving average of $3.94.

Agora (NASDAQ:API) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.05 earnings per share (EPS) for the quarter. Agora had a return on equity of 1.68% and a net margin of 6.75%.The company had revenue of $38.16 million for the quarter. On average, sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Several institutional investors have recently bought and sold shares of API. Marshall Wace LLP boosted its holdings in Agora by 213.0% during the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after acquiring an additional 313,175 shares during the period. New York State Common Retirement Fund purchased a new stake in Agora during the 3rd quarter valued at about $58,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in Agora during the 4th quarter valued at about $85,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

Agora Company Profile

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company’s core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.