Short Interest in Agora, Inc. Sponsored ADR (NASDAQ:API) Increases By 39.2%

Agora, Inc. Sponsored ADR (NASDAQ:API) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 551,485 shares, an increase of 39.2% from the February 26th total of 396,085 shares. Based on an average daily volume of 521,417 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.6% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Agora in a research note on Wednesday, January 21st. Zacks Research cut shares of Agora from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Wall Street Zen downgraded Agora from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Agora Trading Down 1.2%

Shares of API stock opened at $3.41 on Friday. The firm has a market capitalization of $318.26 million, a P/E ratio of 37.89 and a beta of 0.60. Agora has a 1 year low of $2.53 and a 1 year high of $5.15. The firm’s fifty day simple moving average is $4.26 and its 200 day simple moving average is $3.95. The company has a current ratio of 4.58, a quick ratio of 4.34 and a debt-to-equity ratio of 0.14.

Agora (NASDAQ:API) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.05 earnings per share for the quarter. Agora had a net margin of 6.75% and a return on equity of 1.68%. The firm had revenue of $38.16 million during the quarter. As a group, sell-side analysts predict that Agora will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Agora

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in shares of Agora by 213.0% in the 2nd quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock worth $1,753,000 after acquiring an additional 313,175 shares during the period. New York State Common Retirement Fund bought a new position in Agora in the third quarter worth $58,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Agora in the fourth quarter worth $85,000. 40.40% of the stock is owned by institutional investors and hedge funds.

Agora Company Profile

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.