Connor Clark & Lunn Investment Management Ltd. Purchases 433,001 Shares of Agora, Inc. (NASDAQ:API)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Agora, Inc. (NASDAQ:API) by 3,671.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,795 shares of the company’s stock after purchasing an additional 433,001 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of Agora worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in API. TMT General Partner Ltd bought a new position in Agora during the 4th quarter worth approximately $13,004,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Agora during the 4th quarter valued at $12,459,000. Yong Rong HK Asset Management Ltd purchased a new position in Agora during the 4th quarter worth $10,192,000. Harber Asset Management LLC boosted its holdings in Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after acquiring an additional 123,523 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new position in Agora during the 4th quarter worth $183,000. 40.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.10 to $6.00 in a report on Thursday, January 16th.

Agora Trading Down 6.2 %

Shares of API opened at $5.25 on Wednesday. The business’s 50-day moving average price is $5.37 and its 200-day moving average price is $4.27. Agora, Inc. has a twelve month low of $1.65 and a twelve month high of $6.99. The stock has a market cap of $484.06 million, a PE ratio of -10.71, a P/E/G ratio of 4.36 and a beta of 0.37. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06.

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.