Short Interest in Agora, Inc. Sponsored ADR (NASDAQ:API) Decreases By 22.4%

Agora, Inc. Sponsored ADR (NASDAQ:API) saw a large decline in short interest in December. As of December 15th, there was short interest totaling 602,971 shares, a decline of 22.4% from the November 30th total of 776,978 shares. Based on an average daily volume of 433,915 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the shares of the stock are sold short. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 433,915 shares, the short-interest ratio is presently 1.4 days.

Agora Stock Performance

Agora stock opened at $3.97 on Tuesday. The stock has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $3.72. The stock has a market capitalization of $370.52 million, a price-to-earnings ratio of 99.27 and a beta of 0.57. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.13. Agora has a 12-month low of $2.53 and a 12-month high of $6.99.

Agora (NASDAQ:API) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.03 earnings per share for the quarter. Agora had a net margin of 3.47% and a return on equity of 0.84%. The firm had revenue of $35.37 million during the quarter. On average, research analysts anticipate that Agora will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG bought a new position in Agora in the 1st quarter valued at $125,000. Invesco Ltd. raised its position in shares of Agora by 20.2% during the first quarter. Invesco Ltd. now owns 58,454 shares of the company’s stock worth $235,000 after acquiring an additional 9,835 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Agora during the first quarter valued at $69,000. Hsbc Holdings PLC bought a new position in Agora in the first quarter valued at about $100,000. Finally, Rafferty Asset Management LLC acquired a new stake in Agora in the first quarter worth about $376,000. Institutional investors own 40.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on API. Weiss Ratings reissued a “sell (d-)” rating on shares of Agora in a report on Wednesday, October 8th. Wall Street Zen raised shares of Agora from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Agora has a consensus rating of “Hold” and an average target price of $6.00.

About Agora

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company’s core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.