Agora, Inc. (NASDAQ:API – Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a growth of 8.8% from the September 30th total of 1,360,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is presently 0.8 days. Approximately 2.1% of the shares of the company are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of API. Acadian Asset Management LLC bought a new stake in shares of Agora during the first quarter valued at approximately $149,000. Clearline Capital LP raised its stake in Agora by 41.8% during the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after acquiring an additional 36,244 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Agora by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after acquiring an additional 52,432 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Agora in the second quarter worth $777,000. 40.40% of the stock is owned by institutional investors and hedge funds.
Agora Stock Down 2.0 %
NASDAQ:API opened at $2.88 on Thursday. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $2.57 and a 200-day moving average of $2.49. The firm has a market capitalization of $265.54 million, a PE ratio of -3.56 and a beta of 0.01. Agora has a 52 week low of $1.65 and a 52 week high of $6.43.
Analysts Set New Price Targets
Separately, Bank of America lowered shares of Agora from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.00 to $2.63 in a report on Tuesday, August 20th.
Check Out Our Latest Research Report on Agora
Agora Company Profile
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.
See Also
- Five stocks we like better than Agora
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- Health Care Stocks Explained: Why You Might Want to Invest
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- Differences Between Momentum Investing and Long Term Investing
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for Agora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agora and related companies with MarketBeat.com's FREE daily email newsletter.