Short Interest in Agora, Inc. (NASDAQ:API) Declines By 25.4%

Agora, Inc. (NASDAQ:API) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,850,000 shares, a decline of 25.4% from the December 15th total of 2,480,000 shares. Based on an average trading volume of 1,590,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in Agora during the third quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora during the 3rd quarter worth approximately $28,000. Acadian Asset Management LLC raised its position in shares of Agora by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock valued at $137,000 after buying an additional 5,051 shares during the period. Clearline Capital LP lifted its holdings in Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after acquiring an additional 36,244 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Agora by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after acquiring an additional 52,432 shares during the period. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Thursday.

Agora Trading Up 17.3 %

Agora stock traded up $0.69 during trading on Thursday, reaching $4.69. 1,162,262 shares of the company were exchanged, compared to its average volume of 603,579. The stock’s 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $3.25. The company has a market capitalization of $432.42 million, a P/E ratio of -9.57 and a beta of 0.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. Agora has a 52-week low of $1.65 and a 52-week high of $6.64.

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.