Agora, Inc. (NASDAQ:API) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Agora, Inc. (NASDAQ:API - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,477,609 shares of the company's stock after selling 273,000 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.69% of Agora worth $10,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TMT General Partner Ltd purchased a new position in Agora in the 4th quarter valued at about $13,004,000. Harber Asset Management LLC raised its stake in shares of Agora by 6.1% in the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company's stock valued at $5,160,000 after purchasing an additional 123,523 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Agora by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company's stock valued at $1,471,000 after purchasing an additional 2,791 shares in the last quarter. Clearline Capital LP raised its stake in shares of Agora by 4.0% in the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company's stock valued at $308,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Agora in the 3rd quarter valued at about $28,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Agora Stock Performance

API traded up $0.49 on Friday, hitting $6.16. 1,908,538 shares of the company's stock were exchanged, compared to its average volume of 1,248,511. The firm has a market cap of $567.95 million, a PE ratio of -12.57, a P/E/G ratio of 4.01 and a beta of 0.38. Agora, Inc. has a twelve month low of $1.65 and a twelve month high of $6.89. The stock has a fifty day moving average of $4.97 and a two-hundred day moving average of $3.84. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

Agora (NASDAQ:API - Get Free Report) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.26) earnings per share for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same quarter last year, the business posted ($0.23) EPS. On average, research analysts anticipate that Agora, Inc. will post -0.4 earnings per share for the current fiscal year.

Agora Profile

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.