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

Agora, Inc. (NASDAQ:API) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,770,000 shares, a growth of 36.2% from the October 31st total of 1,300,000 shares. Based on an average daily volume of 2,350,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.5% of the shares of the stock are sold short.

Institutional Trading of Agora

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in shares of Agora by 8.4% in the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after acquiring an additional 5,051 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Agora by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after purchasing an additional 52,432 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Agora during the second quarter worth $777,000. Clearline Capital LP raised its position in shares of 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 buying an additional 36,244 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora in the third quarter worth about $28,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America cut Agora from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.00 to $2.63 in a research report on Tuesday, August 20th.

Agora Price Performance

NASDAQ API traded down $1.19 on Friday, hitting $5.16. The company had a trading volume of 4,118,262 shares, compared to its average volume of 845,892. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 8.29. The company has a market capitalization of $475.75 million, a PE ratio of -10.65 and a beta of -0.03. Agora has a 12-month low of $1.65 and a 12-month high of $6.49. The company’s fifty day moving average price is $3.53 and its 200-day moving average price is $2.74.

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.