Agora, Inc. (NASDAQ:API - Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a growth of 8.8% from the September 30th total of 1,360,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is presently 0.8 days. Approximately 2.1% of the shares of the company are short sold.
Institutional Trading of Agora
A number of large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in Agora during the 2nd quarter valued at about $777,000. Dimensional Fund Advisors LP increased its stake in Agora by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company's stock valued at $585,000 after buying an additional 52,432 shares during the period. Clearline Capital LP increased its stake in Agora by 41.8% during the 2nd quarter. Clearline Capital LP now owns 122,999 shares of the company's stock valued at $261,000 after buying an additional 36,244 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Agora by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 65,078 shares of the company's stock valued at $137,000 after buying an additional 5,051 shares during the period. Institutional investors and hedge funds own 40.40% of the company's stock.
Agora Stock Performance
Shares of API stock traded down $0.06 during trading hours on Wednesday, reaching $2.88. The stock had a trading volume of 339,398 shares, compared to its average volume of 717,854. The company has a debt-to-equity ratio of 0.04, a current ratio of 8.29 and a quick ratio of 8.29. Agora has a twelve month low of $1.65 and a twelve month high of $6.43. The firm has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $2.49. The firm has a market capitalization of $265.54 million, a PE ratio of -3.56 and a beta of 0.01.
Agora (NASDAQ:API - Get Free Report) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). Agora had a negative return on equity of 7.32% and a negative net margin of 31.69%. The firm had revenue of $34.21 million during the quarter, compared to analyst estimates of $34.46 million. During the same period last year, the business earned ($0.45) EPS. As a group, equities analysts forecast that Agora will post -0.21 earnings per share for the current year.
Analyst Ratings Changes
Separately, Bank of America cut shares of Agora from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $4.00 to $2.63 in a report on Tuesday, August 20th.
Read Our Latest Analysis on API
About Agora
(
Get 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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