Agora, Inc. (NASDAQ:API) Short Interest Update

Agora, Inc. (NASDAQ:API) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, an increase of 8.8% from the September 30th total of 1,360,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Agora Stock Down 2.0 %

NASDAQ API opened at $2.88 on Thursday. Agora has a 12 month low of $1.65 and a 12 month high of $6.43. The company has a market capitalization of $265.54 million, a P/E ratio of -3.56 and a beta of 0.01. The company’s 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.29 and a quick ratio of 8.29.

Agora (NASDAQ:API) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $34.21 million during the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.45) EPS. Equities research analysts expect that Agora will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agora

Hedge funds have recently modified their holdings of the stock. Clearline Capital LP raised its holdings in Agora by 41.8% during the 2nd 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. Bank of Montreal Can purchased a new position in shares of Agora in the second quarter worth approximately $777,000. Dimensional Fund Advisors LP raised its holdings in shares of Agora by 23.5% during the second 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. Finally, Acadian Asset Management LLC lifted its position in shares of Agora by 8.4% in the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock valued at $137,000 after acquiring an additional 5,051 shares in the last quarter. 40.40% of the stock is owned by hedge funds and other institutional investors.

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.