Clearline Capital LP Buys 4,975 Shares of Agora, Inc. (NASDAQ:API)

Clearline Capital LP lifted its stake in Agora, Inc. (NASDAQ:API) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,974 shares of the company’s stock after acquiring an additional 4,975 shares during the period. Clearline Capital LP’s holdings in Agora were worth $308,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora in the third quarter worth about $28,000. Acadian Asset Management LLC raised its stake in shares of Agora by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after acquiring an additional 5,051 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Agora by 23.5% during 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 during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Agora in the second quarter valued at approximately $777,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Agora Price Performance

Shares of NASDAQ API opened at $5.16 on Monday. Agora, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $6.49. The company has a market cap of $475.76 million, a PE ratio of -10.53 and a beta of -0.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.29 and a current ratio of 6.15. The business has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $2.76.

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.