Arrowstreet Capital Limited Partnership Takes Position in Agora, Inc. (NASDAQ:API)

Arrowstreet Capital Limited Partnership acquired a new position in Agora, Inc. (NASDAQ:API - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 740,889 shares of the company's stock, valued at approximately $3,082,000. Arrowstreet Capital Limited Partnership owned approximately 0.80% of Agora as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. TMT General Partner Ltd bought a new position in Agora in the fourth quarter valued at about $13,004,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Agora during the 4th quarter worth approximately $12,459,000. Yong Rong HK Asset Management Ltd acquired a new position in Agora during the 4th quarter worth approximately $10,192,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Agora by 3,671.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 444,795 shares of the company's stock valued at $1,850,000 after purchasing an additional 433,001 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Agora by 159.5% in the fourth quarter. American Century Companies Inc. now owns 119,168 shares of the company's stock valued at $496,000 after buying an additional 73,243 shares in the last quarter. Institutional investors own 40.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised Agora from a "neutral" rating to a "buy" rating and raised their price objective for the company from $3.10 to $6.00 in a report on Thursday, January 16th.

Agora Trading Down 0.3 %

NASDAQ:API traded down $0.01 during trading hours on Tuesday, hitting $2.97. 114,212 shares of the company were exchanged, compared to its average volume of 987,489. The company has a fifty day simple moving average of $4.97 and a 200 day simple moving average of $4.53. Agora, Inc. has a one year low of $1.65 and a one year high of $6.99. The stock has a market capitalization of $273.84 million, a price-to-earnings ratio of -6.06, a price-to-earnings-growth ratio of 4.36 and a beta of 0.50. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06.

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.