Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Agora Inc ADR shares valued at $811,000 were purchased by Morningside China TMT Top Up F on Aug 22 ’24. At $2.20 per share, Morningside China TMT Top Up F acquired 369,018 shares.
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Also, Morningside China TMT Fund II, purchased 31,727 shares, netting a total of over 70,000 in proceeds.
Before that, Hale Roger had added 16,666 shares to its account. In a trade valued at $41,665, the Officer bought Agora Inc ADR shares for $2.50 each.
As published in a research note from BofA Securities on August 20, 2024, Agora Inc ADR [API] has been rated down from a Buy to a Neutral and the price target has been revised to $2.63 from $4. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late September. As of May 16, 2022, Nomura has increased its “Neutral” rating to a “Buy” for API. Earlier on May 05, 2022, Bernstein initiated its rating. Their recommendation was “an Outperform” for API stock.
Analyzing API Stock Performance
During the last five days, there has been a surge of approximately 128.70%. Over the course of the year, Agora Inc ADR shares have jumped approximately 87.83%. Shares of the company reached a 52-week high of $6.43 on 10/02/24 and a 52-week low of $1.65 on 08/23/24. A 50-day SMA is recorded $2.23, while a 200-day SMA reached $2.50. Nevertheless, trading volume fell to 81.39 million shares from 0.32 million shares the previous day.
Support And Resistance Levels for Agora Inc ADR (API)
According to the 24-hour chart, there is a support level at 3.78, which, if violated, would cause prices to drop to 2.63. In the upper region, resistance lies at 6.26. The next price resistance is at 7.59. RSI (Relative Strength Index) is 94.65 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.01, which suggests the price will increase in the coming days. Percent R is at 33.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
