Short Interest in Agora, Inc. (NASDAQ:API) Declines By 12.2%

Agora, Inc. (NASDAQ:API) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,300,000 shares, a decline of 12.2% from the October 15th total of 1,480,000 shares. Based on an average daily volume of 2,170,000 shares, the short-interest ratio is presently 0.6 days. Currently, 1.8% of the shares of the company are short sold.

Agora Stock Up 4.8 %

API opened at $4.39 on Friday. Agora has a fifty-two week low of $1.65 and a fifty-two week high of $6.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.29 and a current ratio of 8.29. The stock has a market cap of $404.76 million, a price-to-earnings ratio of -9.54 and a beta of -0.03. The firm’s fifty day moving average is $3.01 and its 200 day moving average is $2.61.

Agora (NASDAQ:API) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $34.21 million for the quarter, compared to analysts’ expectations of $34.46 million. Agora had a negative net margin of 31.69% and a negative return on equity of 7.32%. During the same quarter in the previous year, the business earned ($0.45) EPS. On average, sell-side analysts forecast that Agora will post -0.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered shares of Agora from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.63 in a report on Tuesday, August 20th.

Institutional Investors Weigh In On Agora

Several large investors have recently bought and sold shares of API. Clearline Capital LP lifted 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 valued at $308,000 after acquiring an additional 4,975 shares during the last quarter. Acadian Asset Management LLC increased its stake in Agora by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock worth $137,000 after buying an additional 5,051 shares during the period. Quadrature Capital Ltd bought a new stake in Agora during the third quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Agora during the third quarter valued at about $28,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Agora by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after buying an additional 52,432 shares in the last quarter. Institutional investors own 40.40% of the company’s stock.

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.