5 52-Week Low Stocks to Buy Now

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In this article, we discuss 5 52-week low stocks to buy now. If you want to see more stocks in this selection, check out 10 52-Week Low Stocks to Buy Now

5. Agora, Inc. (NASDAQ:API)

Number of Hedge Fund Holders: 17

52-Week Low as of August 1: $4.695

Agora, Inc. (NASDAQ:API) is a Chinese company offering real-time engagement platform-as-a-service (RTE-PaaS) that allows developers to embed real-time video, voice, and messaging options into applications. The company expects FY22 revenues to fall in the range of $176 million to $178 million, compared to a consensus of $177.34 million. Agora, Inc. (NASDAQ:API) posted a revenue of $38.59 million in Q1 2022, beating Street consensus by $1.59 million. 

On May 16, Nomura analyst Bing Duan upgraded Agora, Inc. (NASDAQ:API) to Buy from Neutral with a price target of $10, down from $11. While the analyst slightly lowered the FY22-24 revenue forecasts to factor in a slower-than-expected recovery, he lifted his earnings estimates on the back of improved loss margins and believes “demand and policy shock” is already reflected in the share price. The company is utilizing its $200 million buyback program and rating upgrade indicates Agora, Inc. (NASDAQ:API)’s stabilizing business, the analyst added.

According to Insider Monkey’s data, 17 hedge funds were long Agora, Inc. (NASDAQ:API) at the end of Q1 2022, up from 12 funds in the last quarter. Dawid Krige’s Cederberg Capital is the leading stakeholder of the company, with 2.19 million shares worth $21.8 million. 

Here is what Tao Value has to say about Agora, Inc. (NASDAQ:API) in its Q3 2021 investor letter:

“As witnessed in the past quarter, the government intervention in the Chinese private sector is elevated to an unprecedented level. Given this background, I thoroughly reviewed all our Chinese holdings and made a few changes. We exited Agora (ticker: API) as we estimated that it has 25+% of evaporating revenue tied to online education use cases, but the management seemed to be evasive about the potential impact.”

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