TMT General Partner Ltd Takes Position in Agora, Inc. (NASDAQ:API)

TMT General Partner Ltd purchased a new position in shares of Agora, Inc. (NASDAQ:API) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,126,027 shares of the company’s stock, valued at approximately $13,004,000. Agora makes up approximately 6.0% of TMT General Partner Ltd’s investment portfolio, making the stock its 2nd largest position. TMT General Partner Ltd owned approximately 3.39% of Agora as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Agora in the second quarter valued at $777,000. Harber Asset Management LLC increased its holdings in shares of Agora by 6.1% in the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock valued at $5,160,000 after purchasing an additional 123,523 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Agora by 23.5% during the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock worth $585,000 after buying an additional 52,432 shares in the last quarter. Clearline Capital LP grew its position in Agora by 41.8% during the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after buying an additional 36,244 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Agora in the third quarter valued at about $28,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Agora Trading Up 3.0 %

Shares of API opened at $4.81 on Friday. Agora, Inc. has a 12-month low of $1.65 and a 12-month high of $6.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15. The company has a 50-day moving average of $4.63 and a two-hundred day moving average of $3.28.

Analyst Upgrades and Downgrades

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

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.