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

Agora, Inc. (NASDAQ:API - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,050,000 shares, a drop of 37.5% from the March 15th total of 1,680,000 shares. Approximately 1.5% of the company's stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Separately, Bank of America upgraded shares of Agora from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $3.10 to $6.00 in a research note on Thursday, January 16th.

Hedge Funds Weigh In On Agora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TMT General Partner Ltd increased its position in Agora by 247.2% during the first quarter. TMT General Partner Ltd now owns 10,854,288 shares of the company's stock worth $43,634,000 after acquiring an additional 7,728,261 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Agora in the 4th quarter valued at approximately $12,459,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of Agora during the fourth quarter worth $10,192,000. Hhlr Advisors LTD. bought a new position in Agora in the fourth quarter valued at about $8,730,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Agora during the 4th quarter worth approximately $3,082,000. 40.40% of the stock is owned by institutional investors.

Agora Stock Performance

Agora stock traded up $0.07 during midday trading on Tuesday, reaching $2.69. 1,017,332 shares of the company's stock were exchanged, compared to its average volume of 997,945. Agora has a 52 week low of $1.65 and a 52 week high of $6.99. The firm has a market cap of $248.02 million, a price-to-earnings ratio of -5.49, a P/E/G ratio of 4.36 and a beta of 0.50. The stock's 50-day simple moving average is $4.62 and its 200 day simple moving average is $4.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.15 and a current ratio of 6.15.

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.