Agora, Inc. (NASDAQ:API) Stock Position Cut by GGV Capital LLC

GGV Capital LLC decreased its position in Agora, Inc. (NASDAQ:API) by 16.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,679,917 shares of the company’s stock after selling 320,000 shares during the period. Agora comprises 3.8% of GGV Capital LLC’s investment portfolio, making the stock its 6th biggest position. GGV Capital LLC owned approximately 1.82% of Agora worth $4,049,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of API. Bank of Montreal Can purchased a new stake in shares of Agora during the second quarter worth about $777,000. Acadian Asset Management LLC acquired a new stake in Agora in the 1st quarter worth about $149,000. Dimensional Fund Advisors LP increased its stake 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 buying an additional 52,432 shares in the last quarter. Finally, Clearline Capital LP raised its holdings in shares of Agora by 41.8% during the second 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 during the last quarter. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Trading Down 7.3 %

Shares of API opened at $4.07 on Tuesday. Agora, Inc. has a 12-month low of $1.65 and a 12-month high of $6.43. The firm has a market capitalization of $375.26 million, a P/E ratio of -8.85 and a beta of -0.03. The firm has a 50-day moving average price of $3.05 and a 200 day moving average price of $2.62. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.04.

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

Analyst Upgrades and Downgrades

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

Agora 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.