Short Interest in Agora, Inc. (NASDAQ:API) Decreases By 7.0%

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

Institutional Trading of Agora

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position 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 in the last quarter. Nomura Holdings Inc. bought a new position in shares of Agora in the fourth quarter worth $37,000. Clearline Capital LP raised its stake in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Finally, Bank of Montreal Can bought a new stake in Agora during the second quarter worth about $777,000. 40.40% of the stock is currently owned by institutional investors.

Agora Stock Performance

API traded up $0.05 during trading hours on Friday, reaching $2.41. The company’s stock had a trading volume of 444,864 shares, compared to its average volume of 186,341. The company’s 50-day moving average is $2.16 and its 200-day moving average is $2.38. Agora has a 52 week low of $1.65 and a 52 week high of $3.35. The firm has a market cap of $222.21 million, a PE ratio of -2.98 and a beta of -0.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.29 and a current ratio of 8.29.

Agora (NASDAQ:API) last posted 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). The company had revenue of $34.21 million for the quarter, compared to analyst estimates of $34.46 million. Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. During the same quarter in the prior year, the business posted ($0.45) EPS. On average, equities analysts forecast that Agora will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America downgraded Agora from a “buy” rating to a “neutral” rating and lowered their price target for the stock 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.