Agora, Inc. (NASDAQ:API) Sees Significant Growth in Short Interest

Agora, Inc. (NASDAQ:API) 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.

Agora (NASDAQ:API) last issued its earnings results on Monday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. The company had revenue of $34.21 million during the quarter, compared to analyst estimates of $34.46 million. During the same period in the prior year, the business earned ($0.45) earnings per share. Analysts predict that Agora will post -0.21 EPS for the current year.

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.

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.