Short Interest in Agora, Inc. (NASDAQ:API) Rises By 14.1%

Agora, Inc. (NASDAQ:API) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,020,000 shares, a growth of 14.1% from the November 15th total of 1,770,000 shares. Based on an average daily volume of 2,790,000 shares, the short-interest ratio is presently 0.7 days. Approximately 2.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Bank of America downgraded shares of Agora from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.63 in a research report on Tuesday, August 20th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in API. Clearline Capital LP raised its position in shares of Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares during the period. Acadian Asset Management LLC increased its stake 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in Agora during the 3rd quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Agora during the third quarter valued at about $28,000. Finally, Dimensional Fund Advisors LP boosted its holdings 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 worth $585,000 after buying an additional 52,432 shares during the period. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Price Performance

NASDAQ:API opened at $4.81 on Monday. Agora has a 52-week low of $1.65 and a 52-week high of $6.64. 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 business’s 50-day moving average price is $4.07 and its 200 day moving average price is $2.95. The firm has a market cap of $443.49 million, a P/E ratio of -9.82 and a beta of 0.29.

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.