Short Interest in Agora, Inc. (NASDAQ:API) Decreases By 12.2%

Agora, Inc. (NASDAQ:API - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,300,000 shares, a decrease of 12.2% from the October 15th total of 1,480,000 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in Agora in the third quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Agora during the third quarter worth about $28,000. Acadian Asset Management LLC bought a new stake in Agora during the first quarter worth about $149,000. Clearline Capital LP raised its holdings in shares of 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Agora by 23.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 275,866 shares of the company's stock worth $585,000 after buying an additional 52,432 shares during the last quarter. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

Agora Stock Performance

Agora stock traded up $0.20 during mid-day trading on Friday, reaching $4.39. The company's stock had a trading volume of 1,350,519 shares, compared to its average volume of 788,219. The firm's fifty day moving average price is $3.01 and its two-hundred day moving average price is $2.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.29 and a current ratio of 8.29. Agora has a 12-month low of $1.65 and a 12-month high of $6.43. The company has a market capitalization of $404.76 million, a P/E ratio of -9.54 and a beta of -0.03.

Agora (NASDAQ:API - Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.10) earnings per share (EPS) 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 company had revenue of $34.21 million for the quarter, compared to analysts' expectations of $34.46 million. During the same period last year, the company posted ($0.45) EPS. Sell-side analysts predict that Agora will post -0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered Agora from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $4.00 to $2.63 in a report on Tuesday, August 20th.

Agora Company 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.