Agora (NASDAQ:API) Stock Price Up 1.6% - Should You Buy?

Key Points

• The stock of Agora, Inc. (NASDAQ:API) rose by 1.6% during trading, reaching a last price of $3.83 with a notable trading volume of approximately 392,902 shares.
• Agora has a market capitalization of $357.45 million and significant financial ratios, including a debt-to-equity ratio of 0.10 and a price-to-earnings ratio of -10.64.
• Institutional investors hold around 40.40% of Agora's stock, with notable recent acquisitions from firms like QRG Capital Management and Squarepoint Ops totaling several thousand dollars.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) shares were up 1.6% during mid-day trading on Friday . The stock traded as high as $3.88 and last traded at $3.83. Approximately 392,902 shares were traded during trading, an increase of 14% from the average daily volume of 343,201 shares. The stock had previously closed at $3.77.

Agora Stock Up 1.9%

The firm has a market cap of $356.52 million, a P/E ratio of -10.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $3.84 and a 200-day moving average of $4.21.

Hedge Funds Weigh In On Agora

Hedge funds and other institutional investors have recently bought and sold shares of the business. TMT General Partner Ltd boosted its holdings in shares of Agora by 247.2% during the first quarter. TMT General Partner Ltd now owns 10,854,288 shares of the company's stock worth $43,634,000 after acquiring an additional 7,728,261 shares during the period. Hhlr Advisors LTD. bought a new stake in shares of Agora during the fourth quarter worth approximately $8,730,000. MY.Alpha Management HK Advisors Ltd bought a new stake in shares of Agora during the fourth quarter worth approximately $3,057,000. Acadian Asset Management LLC bought a new stake in shares of Agora during the first quarter worth approximately $2,818,000. Finally, Bank of America Corp DE boosted its holdings in shares of Agora by 714.6% during the fourth quarter. Bank of America Corp DE now owns 565,584 shares of the company's stock worth $2,353,000 after acquiring an additional 496,156 shares during the period. Institutional investors own 40.40% of the company's stock.

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.