Short Interest in Agora, Inc. Sponsored ADR (NASDAQ:API) Drops By 22.4%

Agora, Inc. Sponsored ADR (NASDAQ:API) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 602,971 shares, a decline of 22.4% from the November 30th total of 776,978 shares. Based on an average trading volume of 433,915 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.6% of the company’s shares are sold short. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 433,915 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

A number of brokerages have recently weighed in on API. Weiss Ratings reiterated a “sell (d-)” rating on shares of Agora in a report on Wednesday, October 8th. Wall Street Zen raised Agora from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Agora currently has a consensus rating of “Hold” and an average target price of $6.00.

Agora Stock Performance

NASDAQ:API opened at $4.00 on Wednesday. Agora has a 1 year low of $2.53 and a 1 year high of $6.99. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $373.34 million, a PE ratio of 100.03 and a beta of 0.57. The firm’s fifty day simple moving average is $3.65 and its 200 day simple moving average is $3.72.

Agora (NASDAQ:API) last released its earnings results on Wednesday, November 19th. The company reported $0.03 earnings per share (EPS) for the quarter. Agora had a return on equity of 0.84% and a net margin of 3.47%.The firm had revenue of $35.37 million for the quarter. On average, sell-side analysts anticipate that Agora will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Agora

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Agora in the first quarter valued at $2,818,000. Cubist Systematic Strategies LLC bought a new position in shares of Agora during the first quarter valued at $291,000. Rafferty Asset Management LLC acquired a new stake in shares of Agora in the 1st quarter valued at $376,000. Deutsche Bank AG acquired a new stake in shares of Agora during the first quarter worth approximately $125,000. Finally, Hsbc Holdings PLC bought a new position in shares of Agora in the first quarter valued at approximately $100,000. 40.40% of the stock is owned by institutional investors and hedge funds.

About Agora

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company’s core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.