HCEP Management Ltd Invests $2.08 Million in Agora, Inc. (NASDAQ:API)

HCEP Management Ltd acquired a new stake in Agora, Inc. (NASDAQ:API) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $2,080,000. Agora accounts for 1.7% of HCEP Management Ltd’s holdings, making the stock its 6th biggest holding. HCEP Management Ltd owned 0.54% of Agora at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in Agora during the third quarter valued at about $27,000. JPMorgan Chase & Co. raised its stake in shares of Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after acquiring an additional 2,791 shares during the last quarter. TMT General Partner Ltd acquired a new position in Agora during the 4th quarter worth $13,004,000. 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 valued at $30,000 after acquiring an additional 6,960 shares during the period. Finally, Yong Rong HK Asset Management Ltd bought a new position in shares of Agora in the 4th quarter valued at about $10,192,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Agora Trading Down 9.8 %

NASDAQ API opened at $3.41 on Friday. The company has a market cap of $314.41 million, a PE ratio of -6.96, a PEG ratio of 4.36 and a beta of 0.50. Agora, Inc. has a 12 month low of $1.65 and a 12 month high of $6.99. The stock has a 50 day moving average of $5.38 and a 200-day moving average of $4.46. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

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.