Short Interest in Agora, Inc. (NASDAQ:API) Drops By 26.4%

Agora, Inc. (NASDAQ:API) was the target of a large decrease in short interest in 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. Currently, 2.3% of the shares of the stock are sold short. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Agora

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased 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 acquiring an additional 2,791 shares during the period. Two Sigma Investments LP increased its holdings in shares of Agora by 7.7% in the 4th quarter. Two Sigma Investments LP now owns 58,631 shares of the company’s stock worth $244,000 after buying an additional 4,207 shares during the last quarter. Clearline Capital LP increased its holdings in shares of Agora by 4.0% in the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after buying an additional 4,975 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Agora by 1,988.6% in the 4th quarter. Rhumbline Advisers now owns 7,310 shares of the company’s stock worth $30,000 after buying an additional 6,960 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Agora by 7.9% in the 4th quarter. Barclays PLC now owns 119,572 shares of the company’s stock worth $497,000 after buying an additional 8,724 shares during the last quarter. Institutional investors own 40.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Agora Stock Performance

Agora stock opened at $5.60 on Tuesday. The firm’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $4.24. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $516.33 million, a PE ratio of -11.43, a price-to-earnings-growth ratio of 4.36 and a beta of 0.37. Agora has a 1-year low of $1.65 and a 1-year high of $6.99.

About Agora

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.