CloudAlpha Capital Management Limited Hong Kong Takes Position in Agora, Inc. (NASDAQ:API)

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Agora, Inc. (NASDAQ:API) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,995,000 shares of the company’s stock, valued at approximately $12,459,000. Agora accounts for about 0.9% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in API. TMT General Partner Ltd bought a new position in Agora during the 4th quarter worth $13,004,000. Yong Rong HK Asset Management Ltd bought a new position in Agora during the 4th quarter worth $10,192,000. Harber Asset Management LLC raised its position in Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after purchasing an additional 123,523 shares during the last quarter. NINE MASTS CAPITAL Ltd bought a new position in Agora during the 4th quarter worth $183,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Agora during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Stock Down 5.8 %

Shares of NASDAQ:API opened at $5.23 on Friday. The firm has a market cap of $482.22 million, a P/E ratio of -10.67, a P/E/G ratio of 4.36 and a beta of 0.37. 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 12-month low of $1.65 and a 12-month high of $6.99. The business has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $4.05.

Wall Street Analyst Weigh In

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

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.