Agora, Inc. (NASDAQ:API) Sees Large Increase in Short Interest

Agora, Inc. (NASDAQ:API) saw a large growth in short interest in 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. Currently, 2.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Trading of Agora

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new position in Agora during the third quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Agora in the third quarter valued at $28,000. Acadian Asset Management LLC increased its holdings in Agora by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock valued at $137,000 after acquiring an additional 5,051 shares in the last quarter. Clearline Capital LP raised its position in shares of Agora by 41.8% during the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after purchasing an additional 36,244 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $585,000 after acquiring an additional 52,432 shares in the last quarter. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Agora Stock Performance

API traded down $0.44 during trading on Friday, hitting $4.81. 2,401,907 shares of the stock were exchanged, compared to its average volume of 908,270. The firm has a market capitalization of $443.49 million, a P/E ratio of -9.82 and a beta of 0.29. Agora has a 1-year low of $1.65 and a 1-year high of $6.64. The stock has a fifty day moving average price of $4.07 and a two-hundred day moving average price of $2.95. 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.