Short Interest in Agora, Inc. (NASDAQ:API) Increases By 14.1%

Agora, Inc. (NASDAQ:API) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 2,020,000 shares, an increase of 14.1% from the November 15th total of 1,770,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 2,790,000 shares, the short-interest ratio is currently 0.7 days.

Agora Trading Down 8.4 %

Shares of NASDAQ API opened at $4.81 on Monday. The business has a 50 day simple moving average of $4.07 and a 200 day simple moving average of $2.95. Agora has a 52 week low of $1.65 and a 52 week high of $6.64. The stock has a market cap of $443.49 million, a price-to-earnings ratio of -9.82 and a beta of 0.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Agora

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in shares of Agora in the 3rd quarter valued at $27,000. Harber Asset Management LLC lifted its position in shares of Agora by 6.1% in the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after buying an additional 123,523 shares during the last quarter. Clearline Capital LP boosted its position in Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Agora during the third quarter valued at approximately $28,000. Finally, Bank of Montreal Can bought a new position in shares of Agora in the second quarter valued at approximately $777,000. 40.40% of the stock is owned by 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.