TMT General Partner Ltd Takes Position in Agora, Inc. (NASDAQ:API)

TMT General Partner Ltd bought a new position in shares of Agora, Inc. (NASDAQ:API) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,126,027 shares of the company’s stock, valued at approximately $13,004,000. Agora comprises about 6.0% of TMT General Partner Ltd’s portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Agora by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock valued at $1,471,000 after buying an additional 2,791 shares during the period. Clearline Capital LP increased its stake in Agora by 4.0% during 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 last quarter. Acadian Asset Management LLC raised its holdings 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 acquired a new position in shares of Agora in the 3rd quarter valued at about $27,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Agora during the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Analyst Ratings Changes

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

Agora Price Performance

Shares of Agora stock opened at $4.81 on Friday. The company has a fifty day moving average price of $4.63 and a 200 day moving average price of $3.28. 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, Inc. has a twelve month low of $1.65 and a twelve month high of $6.64.

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.