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

Agora, Inc. (NASDAQ:API) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,590,000 shares, a decrease of 26.4% from the February 13th total of 2,160,000 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.10 to $6.00 in a research note on Thursday, January 16th.

Agora Stock Performance

Shares of API stock opened at $5.70 on Friday. The firm’s 50 day moving average price is $5.33 and its 200-day moving average price is $4.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15. Agora has a one year low of $1.65 and a one year high of $6.99. The firm has a market cap of $525.55 million, a P/E ratio of -11.63, a P/E/G ratio of 4.36 and a beta of 0.37.

Institutional Investors Weigh In On Agora

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after purchasing an additional 2,791 shares during the period. Two Sigma Investments LP lifted its stake in shares of Agora by 7.7% during the fourth quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock valued at $244,000 after buying an additional 4,207 shares during the period. Clearline Capital LP lifted its stake in shares of Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock valued at $308,000 after buying an additional 4,975 shares during the period. Rhumbline Advisers lifted its stake in shares of Agora by 1,988.6% during the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock valued at $30,000 after buying an additional 6,960 shares during the period. Finally, Barclays PLC lifted its stake in shares of Agora by 7.9% during the fourth quarter. Barclays PLC now owns 119,572 shares of the company’s stock valued at $497,000 after buying an additional 8,724 shares during the period. 40.40% of the stock is currently owned by institutional investors and hedge funds.

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.