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

Agora, Inc. (NASDAQ:API) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,320,000 shares, a decrease of 7.0% from the August 31st total of 1,420,000 shares. Based on an average daily volume of 138,200 shares, the short-interest ratio is currently 9.6 days. Approximately 1.9% of the company’s stock are sold short.

Agora Price Performance

Shares of NASDAQ API opened at $2.41 on Tuesday. The business has a 50-day moving average price of $2.16 and a 200 day moving average price of $2.38. The stock has a market cap of $222.21 million, a PE ratio of -2.98 and a beta of -0.01. The company has a quick ratio of 8.29, a current ratio of 8.29 and a debt-to-equity ratio of 0.04. Agora has a 52-week low of $1.65 and a 52-week high of $3.35.

Agora (NASDAQ:API) last announced its earnings results on Monday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. The business had revenue of $34.21 million for the quarter, compared to analysts’ expectations of $34.46 million. During the same quarter last year, the business posted ($0.45) earnings per share. Equities research analysts forecast that Agora will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Agora

Several hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in Agora in the 2nd quarter valued at $777,000. Acadian Asset Management LLC purchased a new position in Agora during the first quarter worth about $149,000. Dimensional Fund Advisors LP lifted its position in Agora by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company’s stock valued at $585,000 after purchasing an additional 52,432 shares during the period. Clearline Capital LP increased its position 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 purchasing an additional 36,244 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in shares of Agora during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 40.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America downgraded shares of Agora from a “buy” rating to a “neutral” rating and dropped their target price 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.