Agora, Inc. (NASDAQ:API) Sees Large Increase in Short Interest

Agora, Inc. (NASDAQ:API) was the recipient of a large increase in short interest during the month of 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. Based on an average daily trading volume, of 2,790,000 shares, the short-interest ratio is presently 0.7 days. Approximately 2.8% of the company’s stock are short sold.

Agora Price Performance

NASDAQ API traded down $0.44 during trading hours on Friday, reaching $4.81. The company’s stock had a trading volume of 2,401,907 shares, compared to its average volume of 908,270. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.15 and a quick ratio of 6.15. Agora has a 1-year low of $1.65 and a 1-year high of $6.64. The company’s 50-day moving average is $4.07 and its two-hundred day moving average is $2.95. The firm has a market capitalization of $443.49 million, a price-to-earnings ratio of -9.82 and a beta of 0.29.

Wall Street Analyst Weigh In

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

Institutional Trading of Agora

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in Agora by 8.4% during the second 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 last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 last quarter. Bank of Montreal Can acquired a new position in shares of Agora during the 2nd quarter valued at about $777,000. Clearline Capital LP grew its holdings in shares of Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock valued at $261,000 after purchasing an additional 36,244 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Agora during the third quarter worth about $28,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

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.