Short Interest in Agora, Inc. (NASDAQ:API) Increases By 36.2%

Agora, Inc. (NASDAQ:API) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,770,000 shares, a growth of 36.2% from the October 31st total of 1,300,000 shares. Based on an average daily trading volume, of 2,350,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Agora Trading Down 18.7 %

API opened at $5.16 on Friday. Agora has a one year low of $1.65 and a one year high of $6.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 8.29. The business has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $2.76. The firm has a market capitalization of $475.75 million, a price-to-earnings ratio of -10.53 and a beta of -0.03.

Hedge Funds Weigh In On Agora

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clearline Capital LP boosted its holdings in Agora by 4.0% in the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock valued at $308,000 after acquiring an additional 4,975 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of 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 during the period. Quadrature Capital Ltd purchased a new position in shares of Agora during the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Agora in the third quarter worth about $28,000. Finally, 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 valued at $585,000 after acquiring an additional 52,432 shares in the last quarter. Institutional investors own 40.40% of the company’s stock.

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.