Agora, Inc. (NASDAQ:API - Get Free Report) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,850,000 shares, a decline of 25.4% from the December 15th total of 2,480,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 1,590,000 shares, the short-interest ratio is presently 1.2 days.
Hedge Funds Weigh In On Agora
A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Agora by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company's stock valued at $1,471,000 after acquiring an additional 2,791 shares in the last quarter. Clearline Capital LP raised its holdings in Agora by 4.0% during the third quarter. Clearline Capital LP now owns 127,974 shares of the company's stock worth $308,000 after purchasing an additional 4,975 shares in the last quarter. Acadian Asset Management LLC lifted its position in Agora by 8.4% in the second quarter. Acadian Asset Management LLC now owns 65,078 shares of the company's stock valued at $137,000 after purchasing an additional 5,051 shares during the period. Quadrature Capital Ltd purchased a new stake in Agora in the 3rd quarter valued at approximately $27,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Agora during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 40.40% of the company's stock.
Agora Stock Performance
Shares of Agora stock traded up $0.21 during trading hours on Wednesday, hitting $4.00. 504,256 shares of the company were exchanged, compared to its average volume of 557,848. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $4.61 and a 200-day moving average of $3.24. Agora has a 1 year low of $1.65 and a 1 year high of $6.64. The stock has a market capitalization of $368.81 million, a price-to-earnings ratio of -8.16 and a beta of 0.34.
Agora Company Profile
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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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