Yong Rong HK Asset Management Ltd Makes New $10.19 Million Investment in Agora, Inc. (NASDAQ:API)

Yong Rong HK Asset Management Ltd purchased a new position in shares of Agora, Inc. (NASDAQ:API) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,450,000 shares of the company’s stock, valued at approximately $10,192,000. Agora comprises 4.4% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Agora by 1,988.6% during 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 during the last quarter. TMT General Partner Ltd acquired a new stake in Agora during the 4th quarter valued at approximately $13,004,000. JPMorgan Chase & Co. raised its holdings in Agora by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after purchasing an additional 2,791 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Agora in the 3rd quarter worth approximately $27,000. Finally, Harber Asset Management LLC boosted its stake in shares of Agora by 6.1% in the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after purchasing an additional 123,523 shares during the last quarter. 40.40% of the stock is currently owned by institutional investors and hedge funds.

Agora Stock Up 8.6 %

Shares of Agora stock opened at $6.16 on Friday. The stock’s 50-day moving average is $4.97 and its 200 day moving average is $3.85. Agora, Inc. has a one year low of $1.65 and a one year high of $6.89. The firm has a market cap of $567.95 million, a price-to-earnings ratio of -12.57, a PEG ratio of 4.01 and a beta of 0.38. 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 (NASDAQ:API) last posted its quarterly earnings results on Monday, November 25th. The company reported ($0.26) earnings per share (EPS) for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same period in the prior year, the firm earned ($0.23) EPS. Equities research analysts anticipate that Agora, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Separately, Bank of America raised shares of Agora from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.10 to $6.00 in a research note 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.