Agora (NASDAQ:API) Sets New 52-Week Low at $13.60

Agora, Inc. (NASDAQ:API)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $13.60 and last traded at $13.60, with a volume of 5014 shares. The stock had previously closed at $13.72.

API has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Agora from a “hold” rating to a “sell” rating in a research note on Tuesday, January 4th. Needham & Company LLC decreased their target price on Agora from $40.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 24th. Barclays lifted their target price on Agora from $24.00 to $30.00 in a research report on Tuesday, January 4th. Finally, JPMorgan Chase & Co. assumed coverage on Agora in a research report on Friday, October 22nd. They set an “overweight” rating and a $33.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $44.00.

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -26.21 and a beta of -0.28. The business has a 50-day moving average of $18.75 and a two-hundred day moving average of $26.28.

Agora (NASDAQ:API) last released its earnings results on Monday, November 15th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The firm had revenue of $45.04 million for the quarter, compared to analyst estimates of $40.64 million. Agora had a negative return on equity of 6.91% and a negative net margin of 35.66%. During the same period last year, the business earned ($0.03) earnings per share. Sell-side analysts predict that Agora, Inc. will post -0.6 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in API. Swiss National Bank acquired a new stake in Agora during the second quarter valued at approximately $4,774,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Agora during the second quarter valued at approximately $848,000. Deutsche Bank AG acquired a new stake in Agora during the second quarter valued at approximately $5,128,000. BlackRock Inc. boosted its holdings in Agora by 226.3% during the second quarter. BlackRock Inc. now owns 2,683,223 shares of the company’s stock valued at $112,589,000 after purchasing an additional 1,860,934 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Agora by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 272,558 shares of the company’s stock valued at $11,437,000 after purchasing an additional 24,614 shares in the last quarter. 53.87% of the stock is currently owned by institutional investors.

About Agora (NASDAQ:API)

Agora, Inc provides Real-Time Engagement Platform-as-a-Service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. Its RTE-PaaS offers developers with software tools to embed real-time video, voice, and messaging functionalities into applications. The company's enterprise-grade products include Real-Time Video, Real-Time Voice, Live Interactive Video and Audio Streaming, Real-Time Messaging, Real-Time Recording, Real-Time Streaming Acceleration, Agora Analytics, and various use case products that serves as building blocks for developers to embed the respective functions in applications.

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