Short Interest in Agora, Inc. (NASDAQ:API) Drops By 8.5%

Agora, Inc. (NASDAQ:API) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 1,500,000 shares, a drop of 8.5% from the May 15th total of 1,640,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 144,000 shares, the short-interest ratio is currently 10.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft raised its position in shares of Agora by 23.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 746,589 shares of the company’s stock valued at $1,964,000 after buying an additional 143,501 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Agora in the 4th quarter valued at $37,000. Finally, Acadian Asset Management LLC acquired a new position in Agora in the 1st quarter valued at $149,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

Agora Price Performance

API stock opened at $2.39 on Monday. The stock’s 50 day moving average price is $2.56 and its 200 day moving average price is $2.63. The firm has a market cap of $220.36 million, a P/E ratio of -2.95 and a beta of 0.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.84 and a current ratio of 7.84. Agora has a 1 year low of $2.32 and a 1 year high of $3.50.

Agora (NASDAQ:API) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.93 million. Agora had a negative net margin of 57.83% and a negative return on equity of 13.09%. During the same quarter in the prior year, the company earned ($0.16) earnings per share. On average, sell-side analysts expect that Agora will post -0.23 earnings per share for the current fiscal year.

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.