Agora (NASDAQ:API) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Agora shares fell below their 200-day moving average: They traded as low as $4.06 and last changed hands at $4.09, versus a 200-day average of $4.15.
• Analyst sentiment is mostly neutral: MarketBeat reports a consensus “Hold” rating from one Buy and two Hold recommendations, with a consensus price target of $6.80.
• Agora beat quarterly EPS expectations, reporting $0.02 versus analysts’ estimate of a $0.20 loss, while revenue of $40.42 million was nearly in line with estimates. CEO Bin Zhao also bought 8,420 shares at an average price of $4.33.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on API shares. Weiss Ratings raised shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Wall Street Zen cut shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Bank of America raised their price target on shares of Agora from $6.60 to $6.80 and gave the company a "buy" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.80.

Agora Stock Down 5.3%

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

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

Insider Buying and Selling at Agora

In related news, CEO Bin Zhao acquired 8,420 shares of Agora stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average price of $4.33 per share, with a total value of $36,458.60. Following the completion of the acquisition, the chief executive officer directly owned 2,328,693 shares of the company's stock, valued at $10,083,240.69. This trade represents a 0.36% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 361,087 shares of company stock worth $1,538,250 in the last quarter. 14.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Agora

Several large investors have recently bought and sold shares of API. Allspring Global Investments Holdings LLC raised its position in shares of Agora by 1.0% during the 3rd 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 bought a new position in shares of Agora in the second quarter valued at approximately $55,000. Headlands Technologies LLC boosted its holdings in shares of Agora by 25.8% in the second quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock valued at $195,000 after acquiring an additional 10,021 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Agora in the second quarter valued at approximately $101,000. Institutional investors and hedge funds own 40.40% of the company's stock.

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.

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