Clearline Capital LP Boosts Stake in Agora, Inc. (NASDAQ:API)

Clearline Capital LP boosted its position in Agora, Inc. (NASDAQ:API) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,974 shares of the company’s stock after purchasing an additional 4,975 shares during the period. Clearline Capital LP owned approximately 0.14% of Agora worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Agora by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after acquiring an additional 52,432 shares during the period. Bank of Montreal Can purchased a new stake in shares of Agora during the second quarter valued at $777,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Agora in the third quarter worth about $28,000. Finally, 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. Institutional investors own 40.40% of the company’s stock.

Agora Price Performance

Shares of API stock opened at $5.16 on Monday. Agora, Inc. has a twelve month low of $1.65 and a twelve month high of $6.49. The company has a current ratio of 6.15, a quick ratio of 8.29 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $2.76. The stock has a market capitalization of $475.76 million, a price-to-earnings ratio of -10.53 and a beta of -0.03.

Analyst Upgrades and Downgrades

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

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.