Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Agora, Inc. (NASDAQ:API - Free Report) by 3,671.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,795 shares of the company's stock after acquiring an additional 433,001 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.48% of Agora worth $1,850,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TMT General Partner Ltd purchased a new position in shares of Agora during the fourth quarter valued at approximately $13,004,000. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Agora during the fourth quarter valued at approximately $12,459,000. Yong Rong HK Asset Management Ltd purchased a new position in shares of Agora during the fourth quarter valued at approximately $10,192,000. Harber Asset Management LLC boosted its position in shares of Agora by 6.1% during the third quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company's stock valued at $5,160,000 after buying an additional 123,523 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new position in Agora in the fourth quarter worth $183,000. Institutional investors own 40.40% of the company's stock.
Analysts Set New Price Targets
Separately, Bank of America raised Agora from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $3.10 to $6.00 in a research report on Thursday, January 16th.
Get Our Latest Research Report on Agora
Agora Stock Performance
API stock traded down $0.29 during midday trading on Friday, hitting $4.64. The company's stock had a trading volume of 1,293,489 shares, compared to its average volume of 1,043,934. The stock has a market cap of $427.82 million, a price-to-earnings ratio of -9.47, a PEG ratio of 4.36 and a beta of 0.37. The stock's 50-day moving average price is $5.44 and its 200 day moving average price is $4.30. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. Agora, Inc. has a 1 year low of $1.65 and a 1 year high of $6.99.
About Agora
(
Free Report)
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.
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