Short Interest in Agora, Inc. (NASDAQ:API) Declines By 25.4%

Agora, Inc. (NASDAQ:API) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,850,000 shares, a decrease of 25.4% from the December 15th total of 2,480,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is presently 1.2 days. Approximately 2.6% of the shares of the company are sold short.

Agora Stock Performance

Shares of Agora stock traded up $0.09 on Friday, hitting $4.76. 776,392 shares of the company’s stock were exchanged, compared to its average volume of 716,826. The company has a 50-day simple moving average of $4.64 and a 200-day simple moving average of $3.26. The stock has a market capitalization of $438.88 million, a PE ratio of -9.71 and a beta of 0.34. Agora has a 1 year low of $1.65 and a 1 year 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.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Agora

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Agora by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company’s stock valued at $137,000 after buying an additional 5,051 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 52,432 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Agora in the second quarter worth about $777,000. Clearline Capital LP boosted its stake in shares of Agora by 41.8% in the second quarter. Clearline Capital LP now owns 122,999 shares of the company’s stock worth $261,000 after acquiring an additional 36,244 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Agora during the 3rd quarter valued at approximately $28,000. 40.40% of the stock is currently owned by 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.