Agora, Inc. (NASDAQ:API) Sees Large Decline in Short Interest

Agora, Inc. (NASDAQ:API) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,590,000 shares, a decline of 26.4% from the February 13th total of 2,160,000 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 1.3 days.

Agora Stock Performance

Shares of API opened at $5.70 on Monday. 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 cap of $525.55 million, a PE ratio of -11.63, a P/E/G ratio of 4.36 and a beta of 0.37. Agora has a 12 month low of $1.65 and a 12 month high of $6.99. The stock has a fifty day moving average price of $5.33 and a 200-day moving average price of $4.22.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Agora

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in shares of Agora during the third quarter worth about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Agora in the third quarter worth $28,000. Rhumbline Advisers lifted its stake 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 buying an additional 6,960 shares during the period. Jane Street Group LLC purchased a new stake in shares of Agora during the fourth quarter valued at $53,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Agora during the fourth quarter valued at $69,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

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.