Agora (NASDAQ:API) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Agora, Inc. Sponsored ADR (NASDAQ:API) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $4.15 and traded as low as $4.06. Agora shares last traded at $4.09, with a volume of 129,207 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on API. Bank of America increased their price target on Agora from $6.60 to $6.80 and gave the company a “buy” rating in a research note on Friday, August 14th. Weiss Ratings upgraded Agora from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Wall Street Zen downgraded Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Agora has a consensus rating of “Hold” and an average target price of $6.80.

Agora Trading Down 5.3%

The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $4.24 and its 200 day simple moving average is $4.15. The stock has a market capitalization of $357.14 million, a P/E ratio of 37.19 and a beta of 0.88.

Agora (NASDAQ:API) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.22. Agora had a net margin of 7.23% and a return on equity of 1.96%. The company had revenue of $40.42 million during the quarter, compared to the consensus estimate of $40.44 million. Equities research analysts anticipate that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Insider Activity

In other Agora news, CEO Bin Zhao bought 14,559 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of $3.98 per share, for a total transaction of $57,944.82. Following the acquisition, the chief executive officer directly owned 1,972,165 shares of the company’s stock, valued at $7,849,216.70. This trade represents a 0.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 361,087 shares of company stock valued at $1,538,250. Insiders own 14.60% of the company’s stock.

Institutional Trading of Agora

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Agora by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,801,785 shares of the company’s stock worth $7,531,000 after buying an additional 18,000 shares in the last quarter. AXQ Capital LP acquired a new position in Agora in the second quarter worth approximately $55,000. Headlands Technologies LLC grew its position in Agora by 25.8% in the second quarter. Headlands Technologies LLC now owns 48,795 shares of the company’s stock worth $195,000 after buying an additional 10,021 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Agora in the second quarter worth approximately $101,000. 40.40% of the stock is owned by institutional investors and hedge funds.

About Agora

Agora, Inc. provides cloud software and developer tools for real-time engagement. Its platform offers application programming interfaces and software development kits that let businesses add voice and video communication, interactive live streaming, messaging and signaling to their applications. The company serves developers and organizations across a range of industries and markets worldwide. Its products are designed to support interactive experiences such as in-app calls, online events and real-time collaboration.