Agora, Inc. (NASDAQ:API) Sees Large Decline in Short Interest

Agora, Inc. (NASDAQ:APIGet Free Report) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,970,000 shares, a decrease of 5.7% from the February 29th total of 2,090,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 264,600 shares, the days-to-cover ratio is currently 7.4 days.

Agora Price Performance

API stock opened at $2.54 on Wednesday. Agora has a 1 year low of $2.37 and a 1 year high of $4.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.00 and a current ratio of 4.60. The stock’s 50 day moving average price is $2.72 and its 200 day moving average price is $2.73. The firm has a market cap of $273.02 million, a P/E ratio of -2.92 and a beta of 0.04.

Agora (NASDAQ:APIGet Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. The company had revenue of $36.04 million during the quarter, compared to the consensus estimate of $35.97 million. Agora had a negative return on equity of 13.65% and a negative net margin of 61.62%. On average, sell-side analysts expect that Agora will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Agora

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Agora by 39.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,289,792 shares of the company’s stock valued at $12,821,000 after purchasing an additional 361,898 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Agora by 49.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 665,374 shares of the company’s stock valued at $6,773,000 after buying an additional 218,969 shares during the last quarter. Ergoteles LLC purchased a new position in Agora in the 1st quarter valued at about $1,457,000. Bridgewater Associates LP boosted its position in Agora by 24.6% in the 1st quarter. Bridgewater Associates LP now owns 314,360 shares of the company’s stock valued at $3,125,000 after buying an additional 62,115 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Agora in the 1st quarter valued at about $2,827,000. 40.40% of the stock is currently owned by institutional investors and hedge funds.

Agora Company Profile

(Get Free Report)

Agora, Inc provides real-time engagement platform-as-a-service (RTE-PaaS) in the People's Republic of China, the United States, and internationally. The company's RTE-PaaS offers developers with software tools to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence functionalities.

Further Reading

Receive News & Ratings for Agora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agora and related companies with MarketBeat.com's FREE daily email newsletter.