Agora, Inc. (NASDAQ:API) Short Interest Update

Agora, Inc. (NASDAQ:API) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,590,000 shares, a decrease of 26.4% from the February 13th total of 2,160,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 1.3 days. Approximately 2.3% of the company’s shares are short sold.

Institutional Investors Weigh In On Agora

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Two Sigma Investments LP increased its position in shares of Agora by 7.7% in the fourth quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock worth $244,000 after acquiring an additional 4,207 shares in the last quarter. Clearline Capital LP increased its position in shares of 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 in the last quarter. Rhumbline Advisers increased its position in shares of 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 in the last quarter. Finally, Barclays PLC boosted its stake in shares of Agora by 7.9% in the fourth quarter. Barclays PLC now owns 119,572 shares of the company’s stock valued at $497,000 after purchasing an additional 8,724 shares during the period. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Price Performance

Agora stock opened at $5.70 on Friday. Agora has a 52-week low of $1.65 and a 52-week high of $6.99. The firm has a fifty day moving average of $5.33 and a 200-day moving average of $4.20. The firm has a market capitalization of $525.55 million, a P/E ratio of -11.63, a PEG 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.

Analysts Set New Price Targets

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

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.