Agora, Inc. (NASDAQ:API) Short Interest Update

Agora, Inc. (NASDAQ:API) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,850,000 shares, a drop of 25.4% from the December 15th total of 2,480,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is currently 1.2 days. Currently, 2.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in shares of Agora during the 3rd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora in the 3rd quarter valued at about $28,000. Acadian Asset Management LLC raised its holdings in Agora by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after purchasing an additional 5,051 shares during the period. Clearline Capital LP grew its holdings in Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after purchasing an additional 36,244 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Agora by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after buying an additional 52,432 shares in the last quarter. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

Agora Stock Performance

Shares of Agora stock traded up $0.69 on Thursday, reaching $4.69. 1,162,262 shares of the stock were exchanged, compared to its average volume of 603,579. Agora has a twelve month low of $1.65 and a twelve month high of $6.64. The business has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $3.25. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $432.42 million, a price-to-earnings ratio of -9.57 and a beta of 0.34.

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.