Agora, Inc. (NASDAQ:API) Short Interest Down 12.2% in October

Agora, Inc. (NASDAQ:API) was the recipient of a significant decline in short interest during the month of 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. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 2,170,000 shares, the short-interest ratio is currently 0.6 days.

Agora Stock Up 4.8 %

API stock opened at $4.39 on Monday. The company has a market cap of $404.76 million, a price-to-earnings ratio of -9.54 and a beta of -0.03. 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 business’s 50-day moving average is $3.01 and its two-hundred day moving average is $2.61. Agora has a fifty-two week low of $1.65 and a fifty-two week high of $6.43.

Agora (NASDAQ:API) last released its quarterly earnings results on Monday, August 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business 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 period in the previous year, the company earned ($0.45) EPS. As a group, analysts forecast that Agora will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Agora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Agora during the 1st quarter worth $149,000. Dimensional Fund Advisors LP raised its holdings in Agora by 23.5% in 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 period. Bank of Montreal Can purchased a new position in Agora during the second quarter valued at $777,000. Clearline Capital LP grew its holdings in Agora by 41.8% during the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after purchasing an additional 36,244 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Agora in the third quarter worth about $28,000. 40.40% of the stock is 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.