Connor Clark & Lunn Investment Management Ltd. Grows Position in Agora, Inc. (NASDAQ:API)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Agora, Inc. (NASDAQ:API) by 3,671.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 444,795 shares of the company’s stock after acquiring an additional 433,001 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Agora were worth $1,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in Agora in the third quarter worth $27,000. Rhumbline Advisers lifted its stake in Agora by 1,988.6% in the fourth quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock worth $30,000 after acquiring an additional 6,960 shares during the period. NINE MASTS CAPITAL Ltd purchased a new stake in Agora in the fourth quarter worth $183,000. Clearline Capital LP lifted its stake in Agora by 4.0% in the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after acquiring an additional 4,975 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after acquiring an additional 2,791 shares during the period. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Analysts Set New Price Targets

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

Agora Price Performance

API opened at $5.25 on Wednesday. Agora, Inc. has a 12-month low of $1.65 and a 12-month high of $6.99. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $4.27. The company has a market cap of $484.06 million, a price-to-earnings ratio of -10.71, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37.

About Agora

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.